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CLOSE BROTHERS LTD v AIS (MARINE) 2 LTD (IN LIQUIDATION) AND ANOTHER (THE “OCEAN WIND 8 OF HARTLEPOOL”)

Lloyd's Law Reports

CLOSE BROTHERS LTD v AIS (MARINE) 2 LTD (IN LIQUIDATION) AND ANOTHER (THE “OCEAN WIND 8 OF HARTLEPOOL”)

[2019] 1 Lloyd's Rep. 510

QUEEN'S BENCH DIVISION((ADMIRALTY COURT))

Before Kay

Admiralty – Ship mortgage – Sale of vessel by mortgagee in possession – Sale price insufficient to cover mortgage debt – Mortgagee claiming shortfall from guarantor of mortgagor – Whether sale was at an undervalue.

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