The Bank of Tokyo-Mitsubishi UFJ Ltd v The Owners of the MV “Sanko Mineral” – QBD (Admlty Ct) (Teare J) [2014] EWHC 3927 (Admlty) – 28 November 2014

Admiralty practice – Foreign insolvency proceedings – Vessel sold by order of court – Cargo owners asserting maritime lien and issuing caution against release of proceeds of sale – Whether caution should be struck out or withdrawn on basis that cautioner failed to commence arbitration proceedings in time and shipowner was longer beneficial owner of vessel

On 7 May 2012 the defendant’s vessel Sanko Mineral was made subject to various attachments in the USA by the defendant’s creditors. Whilst the vessel was delayed in the USA the cargo owners (Glencore) filed a claim against her in the US District Court for breach of the contract of carriage under Rule C of the Supplemental Rules for Certain Admiralty and Maritime Claims.