Natwest Markets Plc v Stallion Eight Shipping Co. SA, (the ship MV ALKYON) [2018]

Admiralty Court
Written By Louise Glover

Natwest Markets Plc v Stallion Eight Shipping Co. SA, (the ship MV ALKYON) [2018] EWHC 2033 —31 July 2018 (Teare J)

“The claimant bank had provided a loan for the purchase of a vessel; alleging default, it called in the loan and arrested the vessel as security for its claim. Owners sought release of the vessel unless the bank provided a cross-undertaking in damag…

“The claimant bank had provided a loan for the purchase of a vessel; alleging default, it called in the loan and arrested the vessel as security for its claim. Owners sought release of the vessel unless the bank provided a cross-undertaking in damages. In an urgent but landmark ruling the Admiralty Court held that it had no jurisdiction to require such an undertaking.”

Louise Glover
E. G. Arghyrakis & Co.
08th August 2018

Louise Glover
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