ST Shipping And Transport Pte Ltd & Ors v Space Shipping Ltd & Anor (Rev 1) [2018] EWHC 156 (Comm) (06 February 2018)

ST Shipping And Transport Pte Ltd & Ors v Space Shipping Ltd & Anor (Rev 1) [2018] EWHC 156 (Comm) (06 February 2018)

The stakeholder claim is properly brought under CPR Part 86 as there are competing claims, including those arising from foreign proceedings and arbitration. However, with the Rule B attachment vacated and no enforceable proprietary claim by the head owners, only the disponent owners have an enforceable right to the...

Source-derived case information.

Citation
[2018] EWHC 156 (Comm)
Parties
Claimant: ST Shipping and Transport Pte Ltd; Claimant: Glencore International AG; Claimant: Glencore PLC; Defendant: Space Shipping Ltd; Defendant: Psara Energy Ltd
Jurisdiction
England and Wales
Judgment Date
06 February 2018
Procedural Posture
Stakeholder Claim Under CPR Part 86 / Judgment on Stakeholder Application
Outcome
Stakeholder claim allowed; sums to be paid out as directed
Legal Topics
Stakeholder Proceedings, Competing Claims to Debt, Enforcement of Arbitration Awards, Third Party Debt Orders, International Comity
Commercial Law Arbitration Civil Procedure Stakeholder Proceedings Competing Claims to Debt Enforcement of Arbitration Awards Third Party Debt Orders International Comity

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Summary, issues, holding and outcome

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Parties

ST Shipping and Transport Pte Ltd

Claimant

Glencore International AG

Claimant

Glencore PLC

Claimant

Space Shipping Ltd

Defendant

Psara Energy Ltd

Defendant

Procedural Posture

Stakeholder Claim Under CPR Part 86 / Judgment on Stakeholder Application

Legal Issues

  1. 1 Whether the stakeholder claim is properly brought under CPR Part 86 in the presence of arbitration awards and foreign proceedings
  2. 2 Whether sums held in the stakeholder account should be paid to the disponent owners or withheld pending resolution of a US Rule B attachment appeal
  3. 3 Whether third party debt orders should be granted in favour of the head owners

Ratio Decidendi

The stakeholder claim is properly brought under CPR Part 86 as there are competing claims, including those arising from foreign proceedings and arbitration. However, with the Rule B attachment vacated and no enforceable proprietary claim by the head owners, only the disponent owners have an enforceable right to the sums in the stakeholder account. The sums should be paid out to the disponent owners, subject to third party debt orders in favour of the head owners for amounts due under registered judgments.

Court Disposition

Stakeholder claim allowed; sums to be paid out as directed

Orders

  • Sums in the stakeholder account to be paid to the disponent owners, subject to third party debt orders in favour of the head owners for $911,894.40 and £204,620.
  • Parties to draw up an order to give effect to the judgment.