CREDIT SUISSE AG v Owner of the vessel(s) CHLOE V (IMO No. 9457452)

Contract — Contractual terms — Implied terms — Braganza duty; Contract — Contractual terms — Implied terms — Restraints on the exercise of a contractual discretion; Contract — Contractual terms — Implied terms — Mortgagee’s duty to not interfere with contractual performance by mortgagor; Contract — Contractual terms — Contractual discretion — Whether clause requiring mortgagee bank’s approval of charterparty subject to a contractual discretion; Contract — Contractual terms — Contractual discretion — Whether mortgagee bank in breach of duty in refusing to issue any letter of quiet enjoyment in favour of charterer; Contract — Contractual terms — Contractual discretion — Whether mortgagee bank exercised discretion reasonably in refusing to issue letter of quiet enjoyment in favour of charterer