|Source:||All England Reporter|
|Publisher Citation:|| All ER (D) 122 (Feb)|
|Neutral Citation:|| EWHC 273 (Comm)|
|Court:||Queen's Bench Division, Commercial Court|
|Representation||Mark Jones (instructed by Marine Law Solicitors Ltd) for the claimant.|
|Paul Henton (instructed by Reed Smith LLP) for the defendant.|
|Judgment Dates:||17 February 2012|
Contract - Duress - Economic duress - Claimant owners of vessel entering charter with defendant charterers - Owners subsequently chartering same vessel to third party - Owners confirming would find alternative vessel and would compensate for damages - Charterers requesting $USD6 discount per metric ton of cargo in relation to reduced purchase price demanded by buyers as result of delay in shipment - Owners refusing and offering $USD2 per metric ton (offer) - Charterers accepting $USD2 discount but reserving rights regarding claims for damages arising out of breach of charter - Owners requiring acceptance of offer together with agreement to waive claims for loss and damage - Charterers stating forced to accept terms under protest (settlement agreement) - Arbitrators finding agreement procured by economic duress - Settlement agreement accordingly voidable - Owners appealing on basis facts found by arbitrators not amounting to 'illegitimate pressure' required to establish duress - Whether arbitrators applying wrong test in law.