Lloyd's Law Reports Plus

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

Document

PIONEER FREIGHT FUTURES CO LTD (IN LIQUIDATION) v TMT ASIA LTD

[2011] Lloyd's Rep Plus 50

QUEEN’S BENCH DIVISION (COMMERCIAL COURT)

Before Mrs Justice Gloster

Contract - Forward freight agreements - Earlier agreements concluded on FFABA 2005 Terms - Later agreements concluded on FFABA 2007 Terms - Claimant suffering bankruptcy Event of Default - Whether FFABA 2007 Terms applying retrospectively to earlier agreements - Whether Automatic Early Termination applied - Construction of FFABA Terms 2007, clauses 10, 21(b) and 21(d) - ISDA 1992 Master Agreement, section 6(e).

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