On 10 December, the Court of Appeal upheld the judgment of Mr Justice Teare in Griffon Shipping LLC v Firodi Shipping Limited  1 Lloyd’s Rep 50, a matter involving a seller’s remedy in the event of non-payment of the deposit under the terms of the Norwegian Saleform 1993 form (NSF 1993), dismissing the appellant Buyer’s appeal, which was heard last month.
The appeal arises out of the apparent controversy caused by an amendment that first appeared in the NSF 1983 form and which introduced an additional paragraph to Clause 13, the “Buyers’ default” clause.
Reed Smith acted for the successful Sellers, Griffon Shipping LLC. For further information and comment on this case, please see the recent Reed Smith client alert by Charles Weller, Philip Rymer, Robert Wilkins and Michael Wood.
The full text of the Court of Appeal’s judgment is available on BAILII.