EUROBANK SA V MOMENTUM MARITIME SA AND OTHERS

[2024] EWHC 210 (Comm), King's Bench Division, Commercial Court, His Honour Judge Pelling KC, sitting as a High Court Judge, 29 January 2024

Ship finance – Mortgages – Bank claiming following loan default – Security over vessels – Vessels sold by port authority in private sale – Bank's duties – Summary judgment

The claimant was a bank that had issued a loan facility of about US$12 million to the first to third defendants, which were shipowning companies. The loan was secured by mortgages over the vessels. The fourth to sixth defendants had provided personal guarantees.