Tagged
Azimut-Benetti SpA v Healey – QBD (Com Ct) (Blair J) – 3 September 2010
Contract – Penalty clause - Contract for construction and sale of luxury yacht - Whether termination clause a penalty or liquidated damages
(2010) 805 LMLN 1
By a Yacht Construction Contract dated 25 September 2008, the claimant yacht builder agreed to construct, and Shoreacres Ltd agreed to buy, a white 60 metre yacht with a hull number FB256. The price was €38 million payable in instalments, and the scheduled delivery date was 30 November 2011. The defendant gave his personal guarantee also dated 25 September 2008.
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Michael Daiches, Barrister
Oct 1 2010
