SLB AND OTHERS V PAK AND OTHERS

[2026] EWHC 449 (Comm), King's Bench Division, Commercial Court, Mr Justice Calver, 2 March 2026

Contracts – Guarantee – Terms –Shipbuilding contract requiring buyer to provide refund guarantee within 120 days – Shipyard failing to provide refund guarantees – Whether condition or innominate term – Whether buyer entitled to loss of bargain damages

The ten claimants were shipowners. The three defendants were two shipyards and a trading house, all subsidiaries of the same company, Z Co.