Security Maintenance Clauses in Ship Finance Transactions: Are They Enforceable?1 August 2019
English High Court confirms that banks can enforce security by relying on breach of loan to value ratio covenant in ship finance agreement.
English High Court confirms that banks can enforce security by relying on breach of loan to value ratio covenant in ship finance agreement.
In a landmark ruling that has brought welcome clarity to a legal ‘hot topic’ that has been debated for many years, the English Court of Appeal has now upheld the first instance decision of the Admiralty Court in The Alkyon.