CIMC RAFFLES OFFSHORE (SINGAPORE) LTD AND ANOTHER v SCHAHIN HOLDING SA

[2013] 2 Lloyd's Rep. 575

COURT OF APPEAL

Before Lady Justice ARDEN,Lord Justice MCCOMBE,Sir Bernard RIX

Banking – Guarantee – Summary judgment – Defendant guaranteeing sums due under shipbuilding contracts on delivery of drilling rigs – Shipbuilding contracts subsequently varied to provide for substantial increase in sums due on delivery – Whether subsequent variation discharged defendant from liability – Whether subsequent variation within purview of guarantee – Whether shipbuilder entitled to summary judgment.