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11.05.2016

Nordisk Circular – May-II 2016

OW Bunkers and the Res Cogitans pilot case - Supreme Court upholds bunker suppliersโ€™ right to be paid where property did not pass

Many of our members have been affected by the bankruptcy of the OW Bunker group of companies back in 2014, as have hundreds of other owners and charterers around the world. All of us have followed the so-called Res Cogitans pilot case with great interest as it has been reviewed in London by an arbitration tribunal, the High Court, the Court of Appeal and finally by the Supreme Court. The judgment of the Supreme Court was handed down this morning and unfortunately it provides bad news for those who have purchased bunkers from OW companies. Our friends at Ince & Co have represented the owner/bunker purchaser throughout this epic legal battle and have provided a summary of the judgment which can be found here:

Link to Nordisk Circularย May-IIย Issue