Westwood Shipping Lines Inc and Anr v Universal Schifffahrtsgesellschaft mbH (formerly GMB Schiffahrts GmbH (The "Atalanta") - QBD (Com Ct)(Christopher Clarke J) - 25 May 2012

Practice - Enforcement of arbitration award - Application for appointment of receiver by way of equitable execution - Defendant subject to German insolvency proceedings - Effect of insolvency proceedings on claimant's application - Whether receivership application should be stayed or dismissed - Costs

On 26 July 2005 the owners of the vessel Atalanta (“Kimberley”) chartered her to the defendant (“GMB”) for 84 months. On 28 July 2005 GMB sub-chartered the vessel for five years to the first claimant, Westwood Shipping Lines Inc (“Westwood”). On 11 June 2008 Westwood let the vessel back by way of sub-sub-charter to GMB for the balance of the charter period under the sub-charter from GMB.