UBS AG v Owner of the Vessel "Chloe V"; Koch Shipping Pte Ltd (intervening) [2025] SGHC 142 - High Court of Singapore (Justice S Mohan) - 28 July 2025

Ship mortgage - Duties owed by mortgagee to mortgagor - Discretion to approve charterparties - Effect of refusal of "letter of quiet enjoyment" to charterer

The defendant, a BVI company, was the owner of a very large crude carrier (VLCC) Chloe V, built by Daewoo in South Korea in 2011. UBS, following its merger with Credit Suisse, was an international bank which provided banking facilities to the defendant and was also the mortgagee of Chloe V.