GLASTNOS SHIPPING LTD. AND CONTINENTAL CHARTERING & BROKERAGE LTD. HONG KONG BRANCH v. PANASIAN SHIPPING CORPORATION AND WITHERS (A firm) (THE “GLASTNOS”)

[1991] 1 Lloyd's Rep. 482

QUEEN’S BENCH DIVISION(COMMERCIAL COURT)

Before Mr. Justice Steyn

Sale of ship - Ownership of vessel - Defendants executed judgment against vessel - Dispute as to ownership of vessel - Plaintiffs claimed possession and ownership of vessel - Whether transactions entered into in March 1986 effective - Whether plaintiffs’ sale of vessel valid - Whether corporate veil could be pierced - Whether plea of estoppel made out.