Qatar National Bank (QPSC) v Force India, The Owners of the Yacht [2020]

Qatar National Bank (QPSC) v Force India, The Owners of the Yacht [2020] EWHC 719 — 25 March 2020 (Teare J)

“In January the Court ordered sale of the vessel "Force India" in respect of sums secured by a mortgage. Shortly afterwards, despite the advanced state of the sale procedure, the Claimant applied to set aside the sale Order, in light of an agreement with a third party who had committed to repay the loan. The Court held that in the circumstances, the sale was no longer required and reluctantly rescinded the Order, overcoming its concerns for the reputation of the Admiralty Marshal's sales in the market, only because of the "unusual and perhaps exceptional circumstances".”

Antonino Cordopatri
E. G. Arghyrakis & Co.
22nd April 2020