M/V PACIFIC PEARL CO LTD v OSIOS DAVID SHIPPING INC
 1 Lloyd's Rep. 261
QUEEN'S BENCH DIVISION((COMMERCIAL COURT))
Before Sir Teare
Admiralty – Collision action – Collision jurisdiction agreement – Each shipowner to provide security “in a form reasonably satisfactory to the other” – Whether letter of undertaking containing sanctions clause was in a form “reasonably satisfactory” to the other – Whether implied term of collision jurisdiction agreement that offer of letter of undertaking in “reasonably satisfactory” form had to be accepted.