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International Insolvency: the English Court considers its jurisdiction in cross-border insolvency

Case citation: GUNEL BAKHSHIYEVA v SBERBANK OF RUSSIA AND ORS Due to financial difficulties, the OJSC International Bank of Azerbaijan (“IBA”) had proposed a USD 3.3bn restructuring program in Azerbaijan for its debts. The vast majority of creditors approved the proposal. Sberbank of Russia and Franklin Templeton, did not approve the proposal. The restructuring proceedings were approved [...]

February 21st, 2018|

BDM named Shipping Law Firm of the Year – England

We are very pleased to win Shipping Law Firm of the Year - England in the recent Corporate Livewire Awards.   Apparently over 100,000 corporate professionals were canvassed so thanks to all who voted for us. BDM is a specialist shipping law firm offering high quality legal advice and representation at a reasonable price.  [...]

February 19th, 2018|

A short update on the mandatory CO2 reporting which came into force on 1 January 2018

We would like to remind our readers that as of 1 January 2018, ships over 5,000 gross tonnage became subject to the mandatory monitoring and reporting requirements of CO2 emissions. This is in accordance with the EU’s monitoring, reporting and verification Regulation (Regulation (EU) No. 2015/757 - http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=celex:32015R0757) (“MRV Regulation”), which was drafted in order to [...]

February 16th, 2018|

10 things to bear in mind when drafting an arbitration clause

Scope – should be as wide as possible. As a rule of thumb it should cover “any and all disputes and/or differences between the parties arising under, out of or in connection with the contract” Procedure? – do you want to adopt institutional rules or have an ad hoc procedure under the English Arbitration Acts? [...]

February 12th, 2018|

The Court offers some clarification on barratry and its effect on Owners’ defences under the Hague-Visby Rules

Glencore were the owners of the cargo onboard The “LADY M”.  This cargo was damaged in a fire started intentionally by the Chief Engineer.  Glencore incurred large losses and claimed damages against the Owner under the bill of lading and in bailment. The Owners had a counterclaim for General Average expenditure resulting from the fire. [...]

February 2nd, 2018|

Why pay legal costs?

Many of our clients regard legal costs as a necessary evil. In some cases, for example where our clients are being sued or facing legal difficulties, and they have no insurance cover in place for legal costs, they may have no option but to retain lawyers to protect their interests. In those cases, although it [...]

January 31st, 2018|