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United Kingdom Leading Case mitigationcharterparties

The New Flamenco (Globalia Business Travel SAU v Fulton Shipping Inc)

[2017] UKSC 43
JurisdictionUnited Kingdom
CourtUK Supreme Court
Year2017
StatusBinding authority

Summary

Proceeds from sale of a vessel during a market downturn following early redelivery are a collateral benefit not deductible from charterparty damages for loss of use.

Key Principle

Mitigation in charterparty damages; sale of vessel during market downturn was a collateral benefit not to be set off against damages for early redelivery

Area of Law

shipping

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