Stallion Eight Shipping Co. SA v Natwest Markets Plc [2018]

Stallion Eight Shipping Co. SA v Natwest Markets Plc [2018] EWCA Civ 2760 — 11 December 2018 (Master of the Rolls Sir Terence Etherton, Gross LJ, Flaux LJ)

“The CA has confirmed Teare J's decision to refuse to order a cross-undertaking in damages in relation to a ship-arrest. The CA found that there was no case to intervene on this discretionary decision when the Judge had followed the usual practice; further, departing from the established practice would undermine confidence in the maritime jurisdiction. However, whereas Teare J took the view that only Parliament could bring about the change sought by the defendants, the CA considered that theoretically it fell within the Court's discretion — although in the absence of international consensus and overwhelming support from the maritime industry, there was no reason to alter the status quo.”

Antonino Cordopatri
E. G. Arghyrakis & Co.
12th December 2018