La Pintada Compania Navegacion S.A. v. President of India (The La Pintada) - Q.B.D. (Com.Ct.) (Staughton J.) - 26 October 1982

Arbitration award - Effect on interest where party causes delay in proceedings

Disputes arose under a voyage charterparty in respect of freight and demurrage. Arbitration was commenced by the owners on 10 May 1977. On 6 July 1979 the charterers made an open offer to settle the whole claim on payment of £22,199 being balance of freight, and $58,017 being demurrage. The owners did not accept the offer at this stage, but on 1 February 1981 the charterers paid these two sums to the owners in any event, which sums were accepted on a “without prejudice” basis. Subsequently, in April 1982, the owners accepted the charterers’ original offer and abandoned any further claims.