King Crude Carriers SA and Others v Ridgebury November LLC and Others [2025] UKSC 39 - Supreme Court (Lord Reed, President, Lord Hodge, Deputy President, Lord Hamblen, Lord Burrows and Lord Stephens) - 12 November 2025

Contract - Ship sale - Deposit - Cooperation - Condition precedent to payment of an accrued debt - Maxim that a person should not derive a benefit from their own wrong - Mackay v Dick principle

Three memoranda of agreement (MOAs) for the sale of vessels by Ridgebury to King Crude were concluded on 28, 29 and 30 April 2020 on an amended 2012 Norwegian Saleform. Although the MOAs differed as to parties, prices and dates, their other material terms were identical. The purchase prices were US$17.4 million, US$19.4 million and US$12.6 million respectively.