Astro Exito Navegacion S.A. v. Chase Manhattan Bank N.A. (The Messianiaki Tolmi) - House of Lords (Lord Diplock, Lord Keith, Lord Scarman, Lord Roskill and Lord Bridge) - 23 June 1983

House of Lords confirms judge’s order that Supreme Court Master should sign document if proper signatory refuses to sign

The facts of this case, which are somewhat complex, were summarised in LMLN 68 - 10 June 1982. In brief, the respondents agreed to sell their vessel Messianiaki Tolmi to S. Ltd. for scrap. When the time came for the buyers to take delivery, the price of scrap steel had fallen dramatically and the buyers refused to accept and sign the notice of readiness. Since payment of the purchase price was conditional on the presentation to the confirming bank of certain documents, including the notice of readiness, the buyers effectively stalled the sale.