An overview of key considerations surrounding contracts in the shipping industry in Singapore, including contracts for shipbuilding and carriage, as well as limitation of liability.
Introduction: - The Singapore High Court in The “Sevilla Knutsen” [2022] SGHC 20 (The Sevilla Knutsen) decided for the first time on the quantum of damages to be awarded.
To embed, copy and paste the code into your website or blog:
Guidance from the General Division of the Singapore High Court on the extent to which the protections afforded by the statutory moratoria for schemes of arrangement conflict with the ability of maritime claimants to protect their interests.
Singapore’s scheme of arrangement provisions provide for an automatic moratorium period of up to 30 days for the applicant company to propose a scheme of arrangement to its creditors. In this automatic moratorium period, creditors are barred (except with the leave of court) from, among other things, (1) commencing proceedings against the company; (2) levying execution, distress, or other legal processes against the property of the company; and (3) enforcing any security over any property of the company.