Kyla Shipping Co Ltd & Anor v Freight Trading Ltd & Ors [2022] EWHC 1625 – 1 July 2022 (Baker J)

Kyla sought damages of some USD32m in connection with pre-2008 FFAs. It sought to rely on s32 of the Limitation Act to postpone the (otherwise) 2013 time bar.  The Court ruled that although Kyla’s underlying claim was well founded, a reasonable person should have taken at least a degree of serious interest in why such losses were suffered and thus Kyla could with reasonable diligence have discovered the relevant mistake, disloyalty or concealment within the 6 years. The claim was thus time-barred, and dismissed.