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“Bremen Max” Farenco Shipping Co Ltd -v- Daebo Shipping Co Ltd

11th Nov 2008

[2009] 1 Lloyd’s Rep. 81; [2009] 1 All ER (Comm) 423

Stephen Hofmeyr QC led Sarah Martin; Robert Bright QC – Charterparty (Time) – Letter of indemnity – Charter containing provision obliging owners to deliver cargo without production of bills of lading against LOI – Cargo discharged against LOI requiring charterer to put up security to prevent arrest or secure release of arrest – Holder of bill of lading subsequently arresting vessel – Owners putting up security to obtain release – Whether charterer remained under obligation to provide security – Whether undertakings in LOI conditional upon delivery to party named in LOI.