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“Aktor” PT Berlian Laju Tanker -v- Nuse Shipping

16th Jun 2008

[2008] 2 Lloyd’s Rep 246

Richard Southern Q.C acted for the buyers of the vessel “Aktor” in an MOA dispute

Sale of ship – Norwegian Sale Form – Payment of purchase price – Sellers nominating bank in Singapore for payment of 10 per cent deposit and nominating bank in Greece for payment of balance – Whether entire price payable in Singapore – Whether 10 per cent of price could be paid in Singapore – Whether buyers entitled to rectify MOA to reflect recap email – Whether payment in Greece was condition of contract – Whether sellers validly rescinded contract.

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