Insights

Is it necessary for a guarantor to pay even if the underlying liability is disputed? This was considered recently in Rubicon Vantage International Pte Ltd v KrisEnergy Ltd (The “Rubicon Vantage”) [2019] EWHC 2012 (Comm). Read more...

As reported on 13th October, 2019, the US imposed sanctions on Turkey in response to Turkey’s military activity in Syria.  Only 10 days later, on 23rd October, 2019, following Turkey’s agreement to a ceasefire in Syria, the sanctions have been lifted.  There are no longer any US sanctions in place against Turkey.  

The first IMO 2020 compliant low sulphur fuels (“LSFO”) are starting to be trialled and appear on the market, but at present it is still really anyone’s guess as to how these new types of fuels will behave. Linked with this uncertainty are a myriad of potential concerns as to fuel quality and handling issues. We outline some practical and contractual precaution that can be taken to minimise risk and scope for disputes. Find out more....

In response to President Trump’s announcement, on 6th October, 2019, of his intended withdrawal of the remaining US forces in northern Syria, the Turkish military began an incursion into northern Syria designed to establish a “safe zone” along the northern border and to remove the area from the control and influence of the Kurdish Syrian Democratic Forces. The US has reacted to demonstrate its objections to Turkey’s action by issuing an Executive Order (“EO”) imposing sanctions against certain Turkish entities, governmental bodies and individuals. 

Sanctions clause bites in respect of US secondary sanctions: Lamesa v Cynergy. In Lamesa Investments Limited v Cynergy Bank Limited [2019] EWHC 1877 (Comm) the English Commercial Court was asked to consider whether a party could be excused from contractual performance which could expose it to US “secondary sanctions”. The case is a useful reminder to consider the reach of relevant foreign sanctions and ensure contractual provisions are drafted with these in mind.