Chain of deemed indemnities

In the fifth episode of the litigation saga involving the vessel Miracle Hope (Trafigura Maritime Logistics Pte Ltd v Clearlake Shipping Pte Ltd (The Miracle Hope) (No 5) [2022] EWHC 2234 (Comm)), the focus of the dispute was on the enforceability of a complex chain of letters of indemnity.

The judgment includes a helpful, almost textbook-style explanation of the legal and commercial background on letters of indemnity, including their relationship with other transactions in international trade.