Veracruz Transportation Inc. v. V. C. Shipping Co. Inc. (The Veracruz 1) - Court of Appeal (Beldam and Nourse L.JJ. and Sir John Megaw) - 7 November 1991

Whether court has jurisdiction to grant Mareva injunction not to come into effect until payment of vessel’s purchase price

The buyers agreed to buy the vessel Veracruz 1 for $9.9 million under a memorandum dated 23 June 1989. The latest date for delivery was 31 May 1990. She was to be delivered in substantially the same condition and order as when inspected.