Polestar Maritime Ltd v YHM Shipping Co Ltd & Anor

Clause 11 of the MOA only obliges the Sellers to deliver the vessel with such certificates as she had when inspected, valid and unextended at delivery; Addendum No 1 does not override this obligation; Sellers are permitted 3 banking days to make arrangements for documentation, including release from detention, to enable delivery of the bill of sale.

Parties: Claimant: Polestar Maritime Ltd.; First Defendant: YHM Shipping Co. Ltd.; Second Defendant: Ningyuan Shipping Co. Ltd.
Jurisdiction: England and Wales
Judgment Date: 16 March 2011
Procedural Posture: Arbitration Appeal / Judgment
Outcome: Appeal allowed; award remitted to arbitrator.
Legal Topics: Ship Sale Agreements, Arbitration Appeals, Contract Interpretation

Commercial Law Maritime Law Ship Sale Agreements Arbitration Appeals Contract Interpretation

Case Brief

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Parties

Polestar Maritime Ltd.

Claimant

YHM Shipping Co. Ltd.

First Defendant

Ningyuan Shipping Co. Ltd.

Second Defendant

Procedural Posture

Arbitration Appeal / Judgment

Legal Issues

1 Whether clause 11 of the MOA requires delivery of all certificates required by law at the date of delivery
2 Whether Addendum No 1 overrides the obligation to deliver certificates required by law
3 Whether Sellers have 3 banking days to make arrangements for documentation to deliver bill of sale

Ratio Decidendi

Court Disposition

Appeal allowed; award remitted to arbitrator.

Orders

Award remitted to arbitrator for reconsideration in light of judgment.
Buyers found liable in breach of contract for refusal to complete transaction by paying balance of price.