Classic Maritime Inc. v Limbungan Makmur; New decision regarding the application of “force majeure” clauses
Force majeure events affecting the traders’ businesses do not excuse failure to perform a sales contract or a charter party, no matter how severe the disruptions caused are. The recent case of Classic Maritime Inc. v Limbungan Makmur SDN BHD & Lion Diversified Holdings BHD reminds us the importance of proving causation in order to…
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Glencore -v- Navig8 [2018] EWCA Civ 1901. Considerations about the independent nature of the Letters of Indemnity.
The court interpreted the terms of a voyage charter party (“VC”) and two letters of indemnity (“LOI”) to answer whether a claim brought by the disponent owners (“Navig8”) under the letter was defeated by the operation of a time bar clause in the voyage charter party. This was an appeal by a voyage charterer (“Glencore”)…
DetallesEl Visado de Residencia para Inversores
El visado de Residencia para Inversores “Golden Visa”. Con la entrada en vigor de la Ley 14/2013, de 27 de septiembre, de apoyo a los emprendedores y su internacionalización se introdujo la posibilidad de obtener el visado de residencia por parte de aquellos extranjeros, sean personas físicas o jurídicas, que realicen determinadas inversiones significativas de capital…
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Maersk’s claim against forwarder for demurrage denied by Valencia Court of Appeal
Ref: Judgment of 5th October 2016 This was an appeal by Messrs. A/P Moller Maersk AS against the judgment issued by the Valencia Commercial Court in respect to a claim for demurrage and other costs incurred by a shipment of containers at the port of destination in Saint Petersburg (Russia) for about 150.000,00 USD. The appellants…
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Mediterranean Shipping Company confirms in Valencia the strength of bill of lading jurisdiction clauses
It is no secret that Spain is a major cargo interest country where insurance recoveries against carriers account for the largest part of the maritime legal practice. The entry into force of the Spanish Shipping Act (SSA) brought some hopes for the cargo interest to stop major shipping lines from successfully obtaining stay of proceedings…
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Interesting judgment for damages on deceit, OMV PETROM SA v GLENCORE INTERNATIONAL AG
This was an appeal by trader Glencore against the $100m damages, interest and costs for deceit awarded by Flaux J to the Romanian oil company, Petrom. Flaux held that Glencore was liable for selling counterfeit cargoes of crude oil, inferior and cheaper crudes having been blended to resemble recognised grades of “Iranian Heavy” and “Gulf…
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