K/S A/S Admiral Shipping v. Portlink Ferries Ltd. - Court of Appeal (Sir John Donaldson M.R., May & Purchas L.JJ.) - 17 April 1984

Mareva injunction - Fraudulent preference provisions no use to plaintiff - Specific modification sought

Admiral Shipping had chartered one of their ships to the defendants, Portlink Ferries Ltd. A dispute arose between the parties and the vessel was withdrawn from service. The plaintiffs had a good arguable claim in the amount of $500,000 but the claim was disputed by the defendants. It followed that at the end of the day the full amount might not be maintained. There might be setoffs of one kind or another and there might even be a full defence. The matter was therefore approached on the basis that there was a good arguable claim for that amount as unliquidated damages for breach of contract.