Wills & Trusts Law Reports | November 2014 #144Mr Mikhaylyuk (M), a manager for the first respondent, NOUK, with responsibility for negotiating the charters of vessels owned by companies within the Novoship group, the remaining respondents, owed fiduciary duties to all the respondents. M had arranged a series of schemes by which he defrauded his principals and enriched himself and others by the payment of bribes given to him by those who chartered his principals’ vessels. These schemes included one concerning vessels chartered to companies owned and controlled by Mr Ruperti (R) which R then sub-chartered at substantially higher rates...
Andrew Savage and Andrew Waters consider the recent Court of Appeal decision in Standard Chartered Bank v Ceylon Petroleum Corporation Moore-Bick LJ’s judgment gives helpful guidance on the question of whether a transaction is hedging or speculation. The Court of Appeal’s decision in Standard Chartered Bank v Ceylon Petroleum Corporation [2012] is the latest in …
Continue reading "Contract: Hedging your bets"
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