In The Golden Victory,1 the House of Lords held by a bare majority that damages recoverable by a claimant for repudiatory breach of contract ought to be discounted on account of post-breach events which the court knows, with the benefit of hindsight at the date of hearing, would have diminished the value of the claimant’s contractual rights had the contract not been repudiated. In that case the charterers repudiated a seven-year charterparty in December 2001 with four years left to run; but, in the course of arbitration and before damages were assessed, it emerged that, had the charterparty remained on