Rimpacific Navigation Inc v Daehan Shipbuilding CoLtd

Rimpacific Navigation Inc v Daehan Shipbuilding CoLtd

Ie Su Oh had ostensible authority to sign the guarantees on behalf of the Defendant, and the Claimants were not aware nor grossly negligent as to any lack of authority. The guarantees are enforceable against the Defendant under both English and Korean law. Damages are awarded as claimed, based on arbitration awards.

Parties
Claimant: Rimpacific Navigation Inc; Claimant: Wonder Enterprises Ltd; Defendant: Daehan Shipbuilding Co. Ltd
Jurisdiction
England and Wales
Judgment Date
14 October 2011
Procedural Posture
Commercial Claim for Damages Under Guarantees / Trial Judgment
Outcome
Judgment for the Claimants
Legal Topics
Guarantees, Ostensible Authority, Applicable Law, Damages
Commercial Law Conflict of Laws Guarantees Ostensible Authority Applicable Law Damages

Case Brief

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Parties

Rimpacific Navigation Inc

Claimant

Wonder Enterprises Ltd

Claimant

Daehan Shipbuilding Co. Ltd

Defendant

Procedural Posture

Commercial Claim for Damages Under Guarantees / Trial Judgment

Legal Issues

  1. 1 Whether Ie Su Oh had ostensible authority to bind the Defendant under the guarantees
  2. 2 Whether the guarantees are enforceable against the Defendant under English or Korean law
  3. 3 Quantum of damages

Ratio Decidendi

Ie Su Oh had ostensible authority to sign the guarantees on behalf of the Defendant, and the Claimants were not aware nor grossly negligent as to any lack of authority. The guarantees are enforceable against the Defendant under both English and Korean law. Damages are awarded as claimed, based on arbitration awards.

Court Disposition

Judgment for the Claimants

Orders

  • Damages awarded to Rimpacific Navigation Inc in the sum of US$21,767,454.92, £11,963.54, and HK$102,498.73
  • Damages awarded to Wonder Enterprises Ltd in the sum of US$23,903,380.34, £11,963.54, and HK$102,498.73