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PROGRESS BULK CARRIERS LTD v TUBE CITY IMS LLC (THE “CENK KAPTANOGLU”)

Lloyd's Law Reports

PROGRESS BULK CARRIERS LTD v TUBE CITY IMS LLC (THE “CENK KAPTANOGLU”)

[2012] 1 Lloyd's Rep. 501

QUEEN’S BENCH DIVISION (COMMERCIAL COURT)

Before Mr Justice Cooke

Charterparty (Voyage) — Duress — Owners repudiating charterparty by chartering named vessel to different party — Charterers entering into settlement agreement with owners under protest to accept substitute vessel with different laycan and to waive all claims for loss and damage — Whether settlement agreement voidable for economic duress — Whether owners’ conduct amounted to illegitimate pressure.

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