PT Berlian Laju Tanker TBK & Anor v Nuse Shipping Ltd [2008] EWHC 1330 (Comm) (16 June 2008)

PT Berlian Laju Tanker TBK & Anor v Nuse Shipping Ltd [2008] EWHC 1330 (Comm) (16 June 2008)

The Buyers were obliged under the MOA to pay the full purchase price at the Sellers' nominated bank in Greece. The MOA superseded the Recap, and there was no basis for rectification. The obligation to pay at the nominated bank was a condition of the contract; the Buyers' refusal to comply constituted anticipatory repudiatory breach, entitling the Sellers to terminate and forfeit the deposit.

Citation
[2008] EWHC 1330 (Comm)
Parties
Claimant: PT Berlian Laju Tanker TBK; Claimant: Brotojoyo Maritime Pte Ltd; Defendant: Nuse Shipping Ltd
Jurisdiction
England and Wales
Judgment Date
16 June 2008
Procedural Posture
Commercial Contract Appeal (arbitration Award) / High Court Appeal From Arbitral Award
Outcome
Appeal dismissed
Legal Topics
Rectification of Contract, Interpretation of Contract Terms, Conditions and Innominate Terms, Ship Sale Agreements, Anticipatory Breach, Forfeiture of Deposit
Commercial Law Arbitration Contract Law Rectification of Contract Interpretation of Contract Terms Conditions and Innominate Terms Ship Sale Agreements Anticipatory Breach +1 more

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Parties

PT Berlian Laju Tanker TBK

Claimant

Brotojoyo Maritime Pte Ltd

Claimant

Nuse Shipping Ltd

Defendant

Procedural Posture

Commercial Contract Appeal (arbitration Award) / High Court Appeal From Arbitral Award

Legal Issues

  1. 1 Whether the Buyers were obliged to pay the purchase price (or any part) in Greece under the MOA
  2. 2 Whether the Buyers were entitled to pay 10% of the purchase price by release of the deposit in Singapore
  3. 3 Whether the obligation to pay at the Sellers' nominated bank in Greece was a condition or an innominate term

Ratio Decidendi

The Buyers were obliged under the MOA to pay the full purchase price at the Sellers' nominated bank in Greece. The MOA superseded the Recap, and there was no basis for rectification. The obligation to pay at the nominated bank was a condition of the contract; the Buyers' refusal to comply constituted anticipatory repudiatory breach, entitling the Sellers to terminate and forfeit the deposit.

Court Disposition

Appeal dismissed

Orders

  • Buyers' appeal against the arbitral award is dismissed
  • Sellers entitled to forfeit the deposit as determined by the arbitrators