Priyanka Shipping Ltd v Glory Bulk Carriers Pte Ltd (The “Lory”) – QBD (Comm Ct) (David Edwards QC sitting as a High Court Judge)  EWHC 2804 (Comm) – 28 October 2019
Sale of ship – Buyer contracting to scrap vessel and not to use her for trading – Buyer trading vessel in breach of agreement – Whether seller entitled to injunction – Whether damages adequate remedy – Whether seller entitled to “negotiating damages” – Whether buyer entitled to declaration that seller limited to nominal damages
The defendant seller sold its 2002-built Capesize bulk carrier
CSK Glory to the claimant buyer under a Memorandum of Agreement on an amended Saleform 1993 form dated 26 April 2019 (the MOA). Following
the delivery of the vessel to the buyer she was renamed
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