Diane Galloway

Diane Galloway

Reed Smith

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Commodities contracts and the impact of the OW Bunkers case

As we reported in an earlier Client Alert, the UK Supreme Court recently handed down its highly anticipated judgment in the Res Cogitans case. The Supreme Court was unanimous in finding that a contract to supply bunkers to...more

6/3/2016 - Arbitrators Buyers Caterpillar Commercial Bankruptcy Commodities Contract Terms Insolvency Retention of Title (ROT) Sale of Goods Act (SOGA) Sellers Shipping Suppliers Supply Contracts UK UK Supreme Court Vessels

Disclosure in a digital age – How reforms and technology can reduce the costs of disclosure in arbitration and court

Managing the cost of litigation to business remains one of the toughest issues confronting any lawyer today. As the challenge of keeping costs proportionate seemingly gets more difficult by the day, we consider the impact of...more

4/14/2016 - Disclosure Discovery Discovery Costs Document Productions Electronically Stored Information Information Technology International Arbitration Predictive Coding Proportionality Technology-Assisted Review UK

The challenge of mitigating your losses where there is no available market – ‘The New Flamenco’

Mitigation of damage where there is no available market is a difficult area of law and can be challenging. As the Court of Appeal recognised recently in its judgment in The New Flamenco, “it is notoriously difficult to lay...more

2/27/2016 - Appeals Breach of Contract Charter Damages Duty to Mitigate Repudiation UK Vessels

Entire Agreement Clauses – do they work or not?

This client alert is intended to provide a summary which considers the effectiveness and limitations of entire agreement clauses. It also includes some suggestions as to how one might seek to enhance their effects to cater...more

12/2/2015 - Boilerplate Language Contract Disputes Contract Drafting Contract Terms Estoppel Misrepresentation

Are English arbitration awards ‘final, conclusive and binding’? – revisiting the right to challenge arbitration awards in English...

Recent debate on the right to appeal - Under limited circumstances, a party to an English arbitration award who is dissatisfied with the result can challenge that award in the courts. There are concerns that the current...more

11/3/2015 - Arbitration Arbitration Agreements Arbitration Awards Arbitrators Binding Arbitration Confidential Information ICC LCIA Mandatory Arbitration Clauses Right To Appeal UK

A timely lesson: understanding how a sale contract dispute may have serious financial consequences beyond that contract alone

In the recent case of Sang Stone Hamoon Jonoub Co Ltd v Baoyue Shipping Co Ltd ([2015] EWHC 2288 (Comm)), Mr Justice Males provided direction on the potential liability of cargo owners to shipowners where they do not take...more

8/17/2015 - Buyers Conversion Damages FOB Terms Sales Contracts Sellers Shipping Shipping Cargo Storage Contracts Transportation Contracts Vessels

Extension clauses in FOB contracts

The High Court has recently considered the purpose and effect of the GAFTA FOB contract “Extension of Delivery” clause, which entitles a buyer to claim an extension to the delivery period. This alert considers the conclusions...more

8/12/2014 - Extensions GAFTA Shipping Time Extensions UK Waterborne Freight Transportation

Agreement to negotiate held to be an enforceable condition precedent to arbitration

This Alert looks at “tiered” dispute resolution clauses (i.e. clauses which purport to provide for a process to be followed before the dispute can be referred to arbitration/litigation). They are commonly found in commercial...more

7/31/2014 - Arbitration Arbitration Agreements Negotiations

Combined “Prevention of Shipment” clause replaces Prohibition, Force Majeure and Strikes clauses in standard grain trading...

The Grain and Feed Trade Association ("GAFTA") contracts have traditionally dealt with the consequence of Prohibition, Force Majeure and Strikes by way of independent stand-alone clauses. As of 1 June 2014, a single...more

5/16/2014 - Contract Formation Force Majeure Clause GAFTA UK

Common time limits for trade and shipping claims – a print-out guide

Introduction - A “limitation period” is the period of time within which court or arbitration proceedings must be commenced. Every legal claim will be subject to a limitation period, imposed either by the governing law...more

2/12/2014 - Shipping Statute of Limitations Trucking Industry

“The Masters of their Contractual Fate” – how not to get trapped into a contract before you are ready to commit

A recent High Court decision, Proton Energy Group SA v Orlen Lietuva [2013] EWHC 2872, serves as a timely reminder of the care parties must take when negotiating new deals so as not to become bound when they do not yet wish...more

10/18/2013 - Breach of Contract Contract Drafting Contract Formation Contract Interpretation Offers

Contracting with independent oil storage companies: the reality

Introduction - Storage space is a necessity for the owner of any physical commodity. Stockpiling in storage facilities permits greater flexibility and continuity of supply in the event of supply disruptions, increases...more

9/23/2013 - Contract Drafting Contract Formation Indemnification Oil & Gas Risk Management Storage Tanks

Revised MARPOL Annex V: An Update

In January changes to the way in which Cargo residues were classified came into effect by way of changes to MARPOL Annex V. These changes were met with some concern by both charterers and owners in that any residues of cargo...more

8/15/2013 - Hazardous Substances Ports Shipping Waste Disposal

Letters of Credit and Commodities Contracts – Best Practices Revisited/Optional Confirmation

In this client alert, we revisit some best practices for using documentary letters of credit as the payment mechanism under commodities contracts. We also look at L/C confirmation and confusion which can arise with "may...more

8/12/2013 - Commodities Letter of Credit

North American Grain: key differences between standard forms (2)

This client alert is the second of a two-part series relating to the use of the standard form contract published by the North American Grain Export Association (NAEGA)....more

5/10/2013 - Contract Drafting Exports

North American Grain: key differences between standard forms

The North American grain market has experienced considerable difficulties in recent years. Severe droughts caused by record heats in 2011-2012 resulted in low yields and a deterioration in the quality of key crops such as...more

4/16/2013 - Commodities Standard Forms

Revised MARPOL Annex V: Just Who Should Take Out the Trash?

Following a review by the Correspondence Group established by the Marine Environment Protection Committee in 2006, various amendments to MARPOL Annex V Regulations for the Prevention of Pollution by Garbage from Ships took...more

3/11/2013

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