- Date: 01/01/2001
A cruise ship owner contracted with a shipyard to perform a major conversion project on the ship. However, the early stages of the project ran behind time and in order to minimise disputation to it trading pattern the owner cancelled the contract shortly before delivering the ship to the yard.
The yard subsequently brought a claim for several million dollars for losses arising out of the Member's cancellation. The Club supported the Member in its successful defence of the yard's claim. The legal costs ran into seven figures.