Bulkship Union SA v Qannas Shipping Co Ltd and Anr (The “Cape Courage”) – Supreme Court of Appeal of South Africa (Farlam and Maya JJA, Hurt, Leach and Griesel AJJA) – 1 June 2009
Admiralty jurisdiction – Sale of ship – Buyer alleging breaches of sale contract and misrepresentations – Buyer commencing London arbitration proceedings – Buyer arresting “associated ship” in South Africa as security for claims in London arbitration – Whether buyer’s claims against seller arose before transfer of ownership of vessel – Whether arrest of “associated ship” should be set aside
Disputes arose out of the contract of the sale of the vessel Pearl of Fujairah under a Memorandum of Agreement governed by English law. The MOA was concluded on 7 September 2005. On 18 October 2005 the sellers, Dry Bulk Maritime Ltd (“the sellers”), served the Notice of Readiness on the buyers, Bulkship Union SA (“the buyers”). The sale was completed by delivery of the vessel and the original bill of sale to the buyers against payment of the balance of the purchase price on 20 October 2005.
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Michael Daiches, Barrister
Sep 15 2009
