Lloyd's Maritime Law Newsletter

Banking – Letter of credit – Identity of issuer of letter of credit – Extrinsic evidence – Whether issuing bank excluded liability to make payment – Whether claimant estopped by convention from asserting that defendant was issuing bank

Arbitration – Award – Respondent challenging award in High Court under sections 68 and 69 of Arbitration Act 1996 – Challenges dismissed on paper – Respondent renewing applications by way of oral hearing – Procedure to be adopted for oral hearings – Commercial Court Guide, para O8.5

Practice – Anti-suit injunction – Shipowners and cargo receivers concluding settlement agreement containing London arbitration clause – Non-party bringing proceedings against shipowners in Chinese courts based on settlement agreement – Whether shipowners entitled to anti-suit injunction

Sale of goods – Term contract for sale of gasoline by 12 monthly consignments on cif terms – Seller claiming demurrage and other sums due under contract – Identity of buyer – Whether demurrage claims time-barred – Whether implied term that demurrage rates should be in line with market rate – Whether entitlement to demurrage was an indemnity or free-standing