Castleton Commodities Shipping Co Pte Ltd v Silver Rock Investments [2015] EWHC 2584 (Comm) (30 June 2015)

Castleton Commodities Shipping Co Pte Ltd v Silver Rock Investments [2015] EWHC 2584 (Comm) (30 June 2015)

The claimant is entitled to the proceeds of sale as judgment creditor against the relevant party (Silver Rock or Grupo Minero), and alternatively as beneficiary of a lien, with no other party having a better claim to the monies.

Citation
[2015] EWHC 2584 (Comm)
Parties
Claimant/respondent: Castleton Commodities Shipping Company Pte Limited; Defendant/appellant: Silver Rock Investments
Jurisdiction
England and Wales
Judgment Date
30 June 2015
Procedural Posture
Arbitration Claim (commercial Court) / Application for Withdrawal of Proceeds of Sale Following Judgment and Arbitration Awards
Outcome
Application granted
Legal Topics
Enforcement of Arbitration Awards, Lien on Cargo, Proceeds of Sale, Judgment Creditor Rights
Commercial Law Shipping Law Arbitration Enforcement of Arbitration Awards Lien on Cargo Proceeds of Sale Judgment Creditor Rights

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Parties

Castleton Commodities Shipping Company Pte Limited

Claimant/respondent

Silver Rock Investments

Defendant/appellant

Procedural Posture

Arbitration Claim (commercial Court) / Application for Withdrawal of Proceeds of Sale Following Judgment and Arbitration Awards

Legal Issues

  1. 1 Whether the claimant is entitled to the proceeds of sale of cargo held by solicitors under a court order
  2. 2 Whether the claimant's rights as judgment creditor or lienholder entitle it to the proceeds

Ratio Decidendi

The claimant is entitled to the proceeds of sale as judgment creditor against the relevant party (Silver Rock or Grupo Minero), and alternatively as beneficiary of a lien, with no other party having a better claim to the monies.

Court Disposition

Application granted

Orders

  • Proceeds of sale (approx. US$2.113 million) to be paid out to the claimant
  • Claimant entitled to recover reasonable expenses of sale (over £100,000) from the proceeds