Rolling the dice on contracts

And now Mike Phillips and Joe Gosden, of Stephenson Harwood LLP, take a look at the OW story

The collapse of OW Bunker in November 2014 has left many shipowners and charterers locked in litigation and arbitration with rival claims by and against the insolvent estate, its assignees and underlying physical suppliers. As a part of their operation as an intermediary in the supply of bunkers, an important element of OW’s business was writing swap contracts with shipowners and charterers who were seeking to fix their exposure to future operational expenses.