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News Archive

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. 
Wed, 29/6/2011
Hamblen J considered (1) whether an arbitration award debtor had lost the right to challenge the award by participating in the proceedings before the arbitral tribunal on jurisdiction; (2) whether s. 66 of the Arbitration Act 1996 was a summary enforcement procedure so that an award debtor only needed to show real grounds for doubting the validity of the award for a s. 66 application to be dismissed; (3) whether the Court should dismiss or stay the English enforcement proceedings in favour of...
Fri, 27/5/2011
On 27 May 2011 Mr Justice Peter Smith gave judgment in the dispute between (1) Group Lotus and (2) 1Malaysia Racing, Team Lotus Ventures, Tune Group and Tony Fernandes, as to the right to use the name Team Lotus. Peter Smith J held that Team Lotus Ventures owns the goodwill associated with the Team Lotus name and roundel, and that Group Lotus's claim to the name should be dismissed. The judge ruled that trade marks held by TLV should be revoked, for non-use whilst it was not racing in Formula 1...
Fri, 27/5/2011
Click here for full judgment
Wed, 18/5/2011
In a judgment handed down by the Commercial Court on 12 May 2011, Field J decided preliminary issues concerning the important question in the context of voyage charterparties of whether a strike exception to the running of laytime applies to stop laytime running (i) after the strike has ended; and (ii) where the vessel is delayed in berthing due to congestion that has arisen as a result of the strike. The dispute arose in the context of the widely used Amwelsh form of charterparty, and involved...
Tue, 5/4/2011
On 1 April 2011 Gloster J handed down judgment in one of a number of cases currently going through the courts concerning the proper construction of forward freight agreements ("FFAs") concluded on the terms of the 1992 ISDA Master Agreement.  The Claimant's claim was for about US$26 million said to be owed by the Defendant under 18 FFAs which had been entered into between the parties.  The first 14 of the FFAs were concluded on the 2005 FFABA Terms (the market-standard form for FFA...
Fri, 25/3/2011
In a judgment handed down in the Commercial Court on 25 March 2011, Flaux J ruled on the proper construction of "Loss" in the 1992 ISDA Master Agreement. The cases concerned forward freight agreements ("FFAs") on the market-standard Forward Freight Agreement Brokers Association 2007 Terms ("the FFABA 2007 Terms").  Such FFAs are cash-settled contracts for differences indexed to Baltic Exchange rates.  The "Seller" sells a Contract Route forward to the "Buyer" at a fixed "Contract Rate...
Wed, 9/3/2011
In a judgment handed down in the Commercial Court on 9 March 2011, Hamblen J rejected a claim by CRSM, a San Marino savings bank, that AAA rated CDO2s with a face value of €230m were mis-sold by Barclays in 2004/2005. Hamblen J held that a statement that a CDO2 was AAA rated was "not some general or abstract statement about default probabilities or risk" but instead "The rating was a statement of the rating agencies' expert opinion. Nothing more, or less, was implied by the rating. A...