Standard Chartered Bank v Dorchester LNG & Anor (Rev 1) [2014] EWCA Civ 1382 (22 October 2014)

Standard Chartered Bank v Dorchester LNG & Anor (Rev 1) [2014] EWCA Civ 1382 (22 October 2014)

SCB became lawful holder of the bill of lading on 7 July 2010 when it paid Gunvor and took up the documents, completing indorsement by delivery and acquiring rights of suit under the contract of carriage pursuant to the letter of credit arrangement; appeal dismissed.

Citation
[2014] EWCA Civ 1382
Parties
Claimant/respondent: Standard Chartered Bank; Defendant/appellant: Dorchester LNG (2) Limited
Jurisdiction
England and Wales
Judgment Date
22 October 2014
Procedural Posture
Appeal / Court of Appeal Judgment
Outcome
Appeal dismissed
Legal Topics
Bills of Lading, Letters of Credit, Carriage of Goods by Sea Act 1992, Transfer of Rights of Suit, Misdelivery, Indorsement and Delivery
Commercial Law Shipping Law Banking Law Bills of Lading Letters of Credit Carriage of Goods by Sea Act 1992 Transfer of Rights of Suit Misdelivery +1 more

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Parties

Standard Chartered Bank

Claimant/respondent

Dorchester LNG (2) Limited

Defendant/appellant

Procedural Posture

Appeal / Court of Appeal Judgment

Legal Issues

  1. 1 Interpretation of section 5(2)(b) Carriage of Goods by Sea Act 1992
  2. 2 Whether SCB became lawful holder of bill of lading and acquired rights of suit
  3. 3 Effect of indorsement and delivery under letter of credit

Ratio Decidendi

SCB became lawful holder of the bill of lading on 7 July 2010 when it paid Gunvor and took up the documents, completing indorsement by delivery and acquiring rights of suit under the contract of carriage pursuant to the letter of credit arrangement; appeal dismissed.

Court Disposition

Appeal dismissed

Orders

  • SCB confirmed as lawful holder of bill of lading and entitled to sue for misdelivery
  • Dorchester LNG (2) Limited liable for misdelivery