SIMON CONTAINER MACHINERY LTD. v. EMBA MACHINERY A.B. (Formerly SUND EMBA A.B.)

[1998] 2 Lloyd's Rep. 429

QUEEN’S BENCH DIVISION(COMMERCIAL COURT)

Before His Honour Judge Raymond Jack, Q.C.

Insurance (Credit) - Express term - Trust claim - Contract for supply of machinery - Credit insurance arranged - No further payments made under contract - Defendants included plaintiffs’ invoices in credit insurance claim - Whether plaintiffs could recover from defendants amount received by defendants from credit insurers relating to plaintiffs’ invoices - Whether express term of contract - Whether supported by consideration - Whether moneys held on trust for plaintiffs.