OCM Maritime Nile LLC and Anor v Courage Shipping Co and Ors

OCM Maritime Nile LLC and Anor v Courage Shipping Co and Ors

Claimants lawfully terminated the charterparties and are entitled to possession of the vessels; charterparty terms are not penal; defendants are not entitled to relief from forfeiture due to their misconduct and ongoing sanctions risk; beneficial ownership remained with Mr Mallah, exposing claimants to US sanctions risk.

Parties
Claimant: OCM Maritime Nile LLC; Claimant: OCM Maritime Kama LLC; Defendant: Courage Shipping Co.; Defendant: Amethyst Ventures Co.; Defendant: Oryx Shipping Limited
Jurisdiction
England and Wales
Judgment Date
04 March 2022
Procedural Posture
Commercial Claim / Final Judgment After Expedited Trial
Outcome
Claimants succeed; charterparties lawfully terminated; claimants entitled to possession; relief from forfeiture refused.
Legal Topics
Bareboat Charterparty Termination, Relief From Forfeiture, US Sanctions Regime, Repossession Rights, Penalty Clauses, Beneficial Ownership, Equitable Remedies
Commercial Law Maritime Law Contract Law Sanctions Law Bareboat Charterparty Termination Relief From Forfeiture US Sanctions Regime Repossession Rights +3 more

Case Brief

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Parties

OCM Maritime Nile LLC

Claimant

OCM Maritime Kama LLC

Claimant

Courage Shipping Co.

Defendant

Amethyst Ventures Co.

Defendant

Oryx Shipping Limited

Defendant

Procedural Posture

Commercial Claim / Final Judgment After Expedited Trial

Legal Issues

  1. 1 Whether claimants lawfully terminated charterparties and are entitled to possession of vessels
  2. 2 Whether charterparty provisions are penal and unenforceable
  3. 3 Whether defendants are entitled to relief from forfeiture

Ratio Decidendi

Claimants lawfully terminated the charterparties and are entitled to possession of the vessels; charterparty terms are not penal; defendants are not entitled to relief from forfeiture due to their misconduct and ongoing sanctions risk; beneficial ownership remained with Mr Mallah, exposing claimants to US sanctions risk.

Court Disposition

Claimants succeed; charterparties lawfully terminated; claimants entitled to possession; relief from forfeiture refused.

Orders

  • Declarations that charterparties have been lawfully terminated
  • Declarations that claimants are entitled to possession of vessels