Moondance Maritime Enterprise SA v Carbofer Maritime Trading APS (The “Moondance II”) – QBD (Com Ct) (Field J) – 14 December 2012

Practice – Security for costs – Whether successful party to arbitration entitled to security for costs in respect of favourable costs award pending section 68 challenge by losing party – Whether successful party entitled to security for costs in respect of section 68 challenge – Whether losing party entitled to rely on equitable cross-claim on basis that it was successful party in a subsequent arbitration

The claimant owners chartered their vessel Moondance II to the defendant charterers on an amended NYPE form. The owners subsequently brought arbitration proceedings against the charterers for misrepresentation.