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Classic Maritime -v- Lion Diversified Holdings

21st May 2009

[2010] 1 Lloyd’s Rep 59

Richard Southern Q.C. led Richard Sarll for Classic Maritime in a claim under a contract of affreightment which was alleged to have been frustrated by reason of the worldwide downturn in international trade.

Practice — Summary judgment — Contract of Affreightment containing arbitration agreement — Parent company guaranteeing charterers’ obligations — Guarantee containing non-exclusive English jurisdiction clause — Claimant bringing proceedings against guarantors and charterers for breach of COA — Whether arbitration agreement in COA ousted by terms of guarantee — Whether charterers entitled to stay pending arbitration — Whether guarantor entitled to stay on case management grounds — Whether claimant entitled to summary judgment against guarantor — Whether guarantee void for past consideration — Whether guarantor had realistic prospect of defending claim based on frustration or force majeure