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15 Nov 2016, 1:40 am by Constanty Okolie
In allowing the appeal, the High Court: Relying on The Elena D’Amico [1980] 1 Lloyds Rep 75 held that the Owners were not required to give credit for the capital benefit obtained in October 2007 because this was not a benefit legally caused by the breach; Determined that the sale of the Vessel was a transaction open to the Owners independently of the breach and in applying Laverack v Woods of Colchester Ltd. [1966] EWCA Civ 4, determined that this indicated that “the… [read post]
For further analysis of the effect of The New Flamenco on commercial contracts more generally, we would recommend that you refer to our Client Alert on this case which you can access here: http://www.reedsmith.com/The-challenge-of-mitigating-your-losses-where-there-is-no-available-market–The-New-Flamenco-02-25-2016/ [1] Fulton Shipping Inc of Panama v Globalia Travel SAU [2015] EWCA Civ 1299 (judgment handed down on 21 December 2015) [2] See also our ENR Client Alert which… [read post]