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EEXI and CII – shipping’s next environmental challenge

Introduction There cannot be many people left in the shipping sector unaware that the International Maritime Organisation (IMO) has set a target of reducing annual greenhouse gas emissions in shipping by at least 40% by 2030 and pursuing a 70% reduction by 2050. As a key means of achieving this, the IMO, through the Marine … Continue Reading

The term “mandatory provision of law” in an English law loan agreement found to cover U.S. secondary sanctions

The English Court of Appeal handed down judgment in the case of Lamesa Investments Limited v. Cynergy Bank Limited [2020] EWCA Civ 821 on 30 June 2020. The Court of Appeal upheld the High Court’s decision that U.S. sanctions targeting Lamesa Investments Limited’s (LIL) ultimate owner justified Cynergy Bank Limited’s (CBL) withholding of interest payments … Continue Reading

Collateral lies: The lie is dishonest but the claim is not

The Supreme Court rules that a collateral lie embellishing a valid claim does not amount to a fraudulent claim. Versloot Dredging BV and another (Appellants) v HDI Gerling Industrie Versicherung AG and others [2016] UKSC 45 Facts The vessel DC Merwestone was incapacitated by an ingress of water which flooded the engine room. A claim … Continue Reading

Don’t trip up – a warning for owners

The recently decided case of SBT STAR BULK & TANKERS (GERMANY) GMBH & CO KG V COSMOTRADE SA (THE “WEHR TRAVE”) [2016] EWHC 583 (Comm) in the Queen’s Bench Division of the Commercial Court and before The Hon Sir Bernard Eder will, perhaps, come as a surprise. This was an appeal pursuant to section 69 … Continue Reading
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