NatWest Markets plc v Stallion Eight Shipping Co SA (The "Alkyon") – QBD (Admlty Ct) (Teare J) [2018] EWHC 2033 (Admlty) – 31 July 2018

Admiralty practice – Arrest of vessel by mortgagee – Shipowner applying for order releasing vessel from arrest unless mortgagee provided cross-undertaking in damages – Whether cross-undertaking should be imposed as condition of release

The claimant bank, formerly known as The Royal Bank of Scotland plc, lent US$15,700,000 to the defendant owner of the vessel Alkyon (the shipowner). The loan was secured by a First Preferred Mortgage on the vessel.