Reed Smith Shipping Group Monthly Bulletin - August 2011

more+
less-

In This Issue:

ARBITRATION ... 3

- The Commercial Court considers the exceptional circumstances in which the English court may grant an injunction restraining an arbitration with a foreign seat ... 3

- Commercial Court confirms that factual issues can be determined in the context of an application under Section 66 of the Arbitration Act 1996 ... 4

CIVIL PROCEDURE ... 6

- Court of Appeal considers whether it has the power to extend time and grant relief from sanctions in relation to a consent order ... 6

- Court of Appeal considers whether it is appropriate to stay proceedings concerning the interpretation of an agreement pending expert determination under that agreement ... 6

- Court of Appeal allows a party to rely on an argument on appeal which was pleaded, but not relied on, at first instance ... 7

CONTRACT ... 9

High Court considers the contractual duty of good faith ... 9

- High Court rules that a side letter was not enforceable as a legally binding contract, rather it was an agreement to agree ... 9

- Where a Defendant has agreed to indemnify a Claimant in respect of actual liabilities, the Defendant is not estopped from challenging the existence or amount of the Claimant’s liability to a third party ... 10

COSTS ... 12

- Court of Appeal considers the relevance of set-off of a foreign judgment against an English costs order in an application for security for costs ... 12

- Court of Appeal considers which party is in fact the “winning” party for the purposes of costs ... 12

- In certain situations, the costs consequences of a settlement offer may continue, even if that offer is withdrawn ... 13

- Court of Appeal considers various issues relating to when the Part 36 costs consequences should apply ... 14

- Court of Appeal allows an application for security for costs on the basis that a party had taken steps in relation to his assets which would make it difficult to enforce a costs order against him ... 15

INSURANCE ... 16

- Court of Appeal considers the issue of fair presentation of risk to an insurer ... 16

- Court considers the meaning of the notation “(100%)” in a “sum insured” clause ... 16

JURISDICTION ... 18

Commercial Court considers competing jurisdiction and arbitration clauses ... 18

LEGISLATION ... 19

Wreck Removal Convention Act 2011 receives Royal Assent ... 19

SHIPPING ... 20

- Commercial Court holds that only Forward Freight Agreements with time still to run as at automatic early termination are to be taken in to account in calculation of the payment due upon early termination ... 20

- Court of Appeal considers the situation where a guarantor under shipbuilding contracts is liable to refund advance payments made by the buyers, where those contracts have been terminated according to their terms ... 21

- Court of Appeal considers the situation where a guarantor under shipbuilding contracts is liable to refund advance payments made by the buyers, where those contracts have been terminated according to their terms ... 22

Please see full newsletter below for more information.

LOADING PDF: If there are any problems, click here to download the file.