World Fuel Services (Singapore) Pte Ltd t/a World Fuel Services and Another v MV 'Ainaftis' and Another (A107/2013; A125/2013)
World Fuel Services (Singapore) Pte Ltd t/a World Fuel Services and Another v MV 'Ainaftis' and Another (A107/2013; A125/2013) [2020] ZAKZDHC 23 (28 June 2020)
The court found that the applicants failed to establish a genuine and reasonable need for additional security for interest and costs. The delays in bringing the matter to trial were attributable to both parties, and the applicants' own lack of expedition undermined their claim of being under-secured. The calculations for interest and costs presented by the applicants were overstated and unreliable. The owner was unable to provide further security, having sold the ship and ceased trading, and the applicants did not establish the existence of associated companies capable of providing security.…
Source excerpt
- Admiralty Jurisdiction Regulation Act
- Security For Costs
- Security For Interest
- Associated Ships
- Variation Of Court Order