INTA NAVIGATION LTD AND ANOTHER v RANCH INVESTMENTS LTD AND ANOTHER

[2009] Lloyd's Rep Plus 94

QUEEN’S BENCH DIVISION (COMMERCIAL COURT)

Before Mr Justice Teare

Sale of ship - Right of first refusal - MOA on Norwegian Sale Form terms - Buyers agreeing to purchase newbuilding vessel with right of first refusal to purchase second newbuilding vessel - Sellers giving notice to buyers of sale of second newbuilding to third party on "novation terms" - Buyers exercising right of first refusal - Whether resulting contract on Norwegian Sale Form terms or on novation terms.