Syros Shipping Co. S.A. v. Elaghill Trading Co. (The Proodos C) - Mr. Justice Lloyd - Q.B. - Mar. 25, 1980

Insolvency of charterers - Agreement between shipowners and consignees

Time charterers issued freight pre-paid bills of lading on behalf of shipowners, and then during the voyage became insolvent. The shipowners entered into an agreement with the consignees requiring an additional payment of $12.50 per ton of cargo discharged. The cargo was delivered but consignees refused to pay under the agreement because, they contended, there was no consideration or alternatively the agreement was voidable for duress.