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Arbitration – Award. The Commercial Court allowed the claimant's appeal concerning an arbitration which arose out of a contract of affreightment (COA) made between the claimant, as owners and the defendant, as charterers of bulk carriers. The tribunal had erred in law by failing to hold that by being deprived, by the defendant's breach, of its right to receive freight, the claimant had suffered a loss, notwithstanding that the claimant had used two other companies to receive all inward freight earned under the COA and to pay all outgoing freight. The tribunal had not taken into account that, whilst one limb of the right to receive freight had been the right to receive it into one's bank account, another limb of that right had been the right to give it away.
Arbitration – Award. The Commercial Court allowed the claimant's appeal concerning an arbitration which arose out of a contract of affreightment (COA) made between the claimant, as owners and the defendant, as charterers of bulk carriers. The tribunal had erred in law by failing to hold that by being deprived, by the defendant's breach, of its right to receive freight, the claimant had suffered a loss, notwithstanding that the claimant had used two other companies to receive all inward freight earned under the COA and to pay all outgoing freight. The tribunal had not taken into account that, whilst one limb of the right to receive freight had been the right to receive it into one's bank account, another limb of that right had been the right to give it away.
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