News Archive
Tue, 1/11/2011
Michael Ashcroft QC acted for the successful appellants in this appeal to the Supreme Court concerning the construction of refund guarantees issued in connection with shipbuilding contracts. The judgment of Lord Clarke (with whom Lord Phillips, Lord Mance, Lord Kerr and Lord Wilson agreed) is expected to become the leading guidance as to the proper approach to the construction of commercial contracts generally.
Click here for full judgment
Mon, 19/9/2011
Members of 20 Essex Street are delighted to announce the following nominations in respect of the 2011 Chambers Bar Awards.
International Arbitration
Set of the Year
Silk of the Year - Duncan Matthews QC
Banking and Finance
Silk of the Year - Iain Milligan QC
The award winners will be announced on Thursday 27 October 2011.
Sun, 18/9/2011
The Members of 20 Essex Street, in association with the British Institute of International and Comparative Law, are proud to present a seminar to celebrate Sir Elihu Lauterpacht's 60 years of distinguished practice in international law. Click here for more information
Wed, 7/9/2011
Alex Layton QC has been appointed as an expert to advise the Legal Affairs Committee of the European Parliament on the proposed revision of the Brussels I Regulation on jurisdiction and the enforcement of judgments in civil and commercial matters. He will join a panel of experts from around Europe to give evidence at a special session in Brussels on 20 September 2011. This will be the third occasion on which he will have assisted the European Parliament with this work.
Tue, 6/9/2011
High Court rules on measure of damages for early redelivery under a time charterparty
On 23 August 2011 the Commercial Court handed down judgment on a claim brought by Star Reefers Pool Inc against JFC Group Co Ltd under two contracts of guarantee. The guarantees were in respect of a charterer's obligations under two long-term time charterparties, which were repudiated in September 2010, at which point they had more than a year left to run. The case raised an important question as...
Mon, 25/7/2011
Michael Ashcroft QC acts for the buyers in this appeal to the Supreme Court concerning the proper construction of refund guarantees issued by a Korean bank. The ultimate issue is whether the guarantees cover insolvency on the part of the shipbuilder. The case gives rise to important questions as to the proper approach to construction of commercial contracts generally and more particularly as to role that should be accorded to considerations of business common sense.
Wed, 20/7/2011
High Court considers the application of the netting provisions in 1992 ISDA Master Agreement
This was the second judgment handed down in these proceedings, which arose out of a series of forward freight agreements ("FFAs") entered into between Pioneer Freight Futures Company Limited ("Pioneer") and TMT Asia Limited ("TMT").
In the first judgment, handed down on 1 April 2011, Gloster J held that Pioneer was entitled to be paid US$26,088,865.94 from TMT under the close out provisions of the FFAs...
Thu, 14/7/2011
Blair J allowed an appeal against an arbitration award relating to the damages payable by Charterers for repudiation of a long-term time charterparty. As there was no available market for replacement time charters at the time of termination, the tribunal awarded the Owners a combination of their actual losses for a period of about 8 months, followed by losses assessed by reference to the market which then existed for a replacement time charter for the balance 2 years of the unexpired period of...
Wed, 6/7/2011
Michael Ashcroft QC, acted for the successful Vietnamese and Singaporean insurance claimants in this substantial marine insurance trial and appeal arising out of the total loss of a floating dock during ocean towage from Vladivostok to Vietnam. The Court of Appeal, upholding Christopher Clarke J, rejected the insurers' allegations of fraud, forgery, non-disclosure and unseaworthiness. The Court held that, in the light of the disclosures that had been made, the insurers bore the risk of the...
Fri, 1/7/2011
It is with much sadness that Chambers learned of the death of David Johnson QC who died on 21 June 2011. A member of Chambers for over 40 years and Head of Chambers between 1996 and 1999, David Johnson was a highly respected and much liked individual who proved himself an extremely able and successful advocate and arbitrator.
