Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

Samsun Logix Corp v Oceantrade Corp

Samsun Logix Corp v Oceantrade Corp 18 October 2007 Gross J Commercial Court [2007] EWHC 2372 [2007] ArbLR 50 Arbitration award--Effect--Defaulting charterer's monies paid into escrow account--Creditors obtaining arbitration awards in respect of unpaid hire-- Arbitrator in one proceeding holding that creditor had validly exercised lien-- Whether arbitration award creates rights in rem (no)--Whether arbitration award affects rights of other creditor non-party to the arbitration (no)-- Whether creditor enjoys priority on the basis of arbitration award (no) Arbitration award does not affect the rights of non-parties Samsun Logix, disponent owners, and Deval, shipowners, chartered vessels to Oceantrade who fell into financial trouble and became subject to bankruptcy proceedings in New York. Samsun and Deval both claimed amounts of hire from Oceantrade. In England, Samsun obtained a freezing order pursuant to which sub-freights owing from voyage charterers of the Deval vessel were paid into an escrow account held by Oceantrade's solicitors. Samsun referred disputes to arbitration. The arbitrator issued an award in Samsun's favour for US$1,244,667 representing outstanding hire. Samsun obtained permission to enforce the award. Deval sought to exercise a lien on the sub-freights held by Oceantrade's solicitors under cl 18 of the New York Produce Exchange Form of charterparty. Deval obtained a freezing http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Arbitration Law Reports and Review Oxford University Press

Samsun Logix Corp v Oceantrade Corp

Arbitration Law Reports and Review , Volume 2007 (1) – Jan 1, 2007

Samsun Logix Corp v Oceantrade Corp

Arbitration Law Reports and Review , Volume 2007 (1) – Jan 1, 2007

Abstract

18 October 2007 Gross J Commercial Court [2007] EWHC 2372 [2007] ArbLR 50 Arbitration award--Effect--Defaulting charterer's monies paid into escrow account--Creditors obtaining arbitration awards in respect of unpaid hire-- Arbitrator in one proceeding holding that creditor had validly exercised lien-- Whether arbitration award creates rights in rem (no)--Whether arbitration award affects rights of other creditor non-party to the arbitration (no)-- Whether creditor enjoys priority on the basis of arbitration award (no) Arbitration award does not affect the rights of non-parties Samsun Logix, disponent owners, and Deval, shipowners, chartered vessels to Oceantrade who fell into financial trouble and became subject to bankruptcy proceedings in New York. Samsun and Deval both claimed amounts of hire from Oceantrade. In England, Samsun obtained a freezing order pursuant to which sub-freights owing from voyage charterers of the Deval vessel were paid into an escrow account held by Oceantrade's solicitors. Samsun referred disputes to arbitration. The arbitrator issued an award in Samsun's favour for US$1,244,667 representing outstanding hire. Samsun obtained permission to enforce the award. Deval sought to exercise a lien on the sub-freights held by Oceantrade's solicitors under cl 18 of the New York Produce Exchange Form of charterparty. Deval obtained a freezing

Loading next page...
 
/lp/oxford-university-press/samsun-logix-corp-v-oceantrade-corp-d9vlPi7qiA
Publisher
Oxford University Press
Copyright
© Oxford University Press, 2012
Subject
Judgements
ISSN
2044-8651
eISSN
2044-9887
DOI
10.1093/alrr/2007.1.733
Publisher site
See Article on Publisher Site

Abstract

18 October 2007 Gross J Commercial Court [2007] EWHC 2372 [2007] ArbLR 50 Arbitration award--Effect--Defaulting charterer's monies paid into escrow account--Creditors obtaining arbitration awards in respect of unpaid hire-- Arbitrator in one proceeding holding that creditor had validly exercised lien-- Whether arbitration award creates rights in rem (no)--Whether arbitration award affects rights of other creditor non-party to the arbitration (no)-- Whether creditor enjoys priority on the basis of arbitration award (no) Arbitration award does not affect the rights of non-parties Samsun Logix, disponent owners, and Deval, shipowners, chartered vessels to Oceantrade who fell into financial trouble and became subject to bankruptcy proceedings in New York. Samsun and Deval both claimed amounts of hire from Oceantrade. In England, Samsun obtained a freezing order pursuant to which sub-freights owing from voyage charterers of the Deval vessel were paid into an escrow account held by Oceantrade's solicitors. Samsun referred disputes to arbitration. The arbitrator issued an award in Samsun's favour for US$1,244,667 representing outstanding hire. Samsun obtained permission to enforce the award. Deval sought to exercise a lien on the sub-freights held by Oceantrade's solicitors under cl 18 of the New York Produce Exchange Form of charterparty. Deval obtained a freezing

Journal

Arbitration Law Reports and ReviewOxford University Press

Published: Jan 1, 2007

There are no references for this article.