Phoenix Marine Inc v China Ocean Shipping Co (The ‘Ideal Gavel’) - QBD (Com Ct)(Moore-Bick J) - 20 November 1998

Sale of ship - Preliminary issue as to whether Panamanian seller still in existence - Construction of Panamanian law relating to dissolution of companies - Effect of section 4 of Civil Evidence Act 1972

On 15 November 1993 the plaintiff, a Panamanian company, brought proceedings against the defendants for a declaration relating to an alleged contract for the sale of the vessel Ideal Gavel by the plaintiff to the defendants. A preliminary issue arose as to whether the plaintiff still existed. The plaintiff had been established under the provisions of Law No 32 of 26 February 1927. On 19 June 1995 the members of the plaintiff executed a formal instrument by which they resolved that the company should be dissolved, and liquidators were appointed for that purpose. The instrument was registered on 13 July 1995 and advertised a few days later.