9 Dec 1992
COMPANIA CHILEAN DE NAVEGACION INTEROCEANICA SAA v. THE OWNERS AND/OR DEMISE CHARTERERS OF THE SHIP OR VESSEL "SEASPAC I"
- Citation
- COMPANIA CHILEAN DE NAVEGACION INTEROCEANICA SAA v. THE OWNERS AND/OR DEMISE CHARTERERS OF THE SHIP OR VESSEL "SEASPAC I"
- Court
- Court of Appeal
- Case number
- CACV122/1992
Because there was unrebutted material suggesting a distinct possibility that a London arbitration award might go unsatisfied—including arrests of related vessels, press reports of substantial indebtedness, and uncontroverted assertions about non‑enforceability and exchange controls in Bangladesh—and because the lower court had not addressed enforceability/exchange control issues, the Court of Appeal held the security should not be released and quashed the order releasing it.