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Commercial Disputes Weekly – Issue 115 October 2019

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BITE SIZE KNOW HOW FROM THE ENGLISH COURTS

Welcome to a new weekly update from the London disputes team at Watson Farley & Williams, with bite size snippets of know how from the English courts.

Construction
English Technology and Construction Court finds that failure to identify sums due in respect of construction and non-construction operations under Construction Act 1996 did not invalidate payment notice, but warns that each payment notice will need to be construed against the relevant contractual and statutory background to determine its validity.
C Spencer Limited v MW High Tech Projects UK Limited

Finance
English Court of Appeal holds that terms of an agreement governing operation of a depository account did not negate the bank’s duty of care to refrain from executing an order if it has reasonable grounds for believing the order is an attempt to misappropriate the customers’ funds.
JP Morgan Chase Bank, N.A. v The Federal Republic of Nigeria

Trade Finance
In a significant decision for the trade finance sector, the English courts have held that a warehouse owner was negligent in authenticating warehouse receipts which were subsequently shown to be forgeries.  The decision includes a useful analysis of the legal relationship between the warehouse owner and the holder of a warehouse receipt.
Natixis S.A. v Marex Financial & Ors

Maritime
English Commercial Court holds that a mortgagee could not claim as a co-insured under a war risks policy where the insured vessel had been scuttled by its owner.  Although the owners’ wilful misconduct did not disable the mortgagee from bringing the claim, the events which led to the loss of the vessel were not covered by any of the insured perils under the policy.
Suez Fortune Investments Ltd & Anr v Talbot Underwriting Ltd & Ors (Brillante Virtuoso)

FOR MORE INFORMATION

Should you wish to discuss any of these cases in further detail, please speak with a member of our team on the right, or your regular contact at Watson Farley & Williams.

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