Supreme Court decision in King Crude Carriers SA & Ors v Ridgebury November LLC & Ors
- May 5
- 1 min read
My recent case note on the Supreme Court decision in King Crude Carriers SA & Ors v Ridgebury November LLC & Ors can be found at Online DMC Shipping and Transport.
The case concerned Sellers' termination of an MOA following the Buyers' failure to provide the necessary documentation to enable the deposit account to be opened and whether Sellers were entitled to claim the amount of the (unpaid) deposit as a debt rather than in damages in circumstances where the market price of the vessels at the time of termination was higher than as at the date of termination.
The case note also includes some suggested amendments to the standard Norwegian Saleform 2012 in order to improve a Seller's prospects of recovery in debt.
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