Current Trends in Shipping Law of Possible Interest to Commodities Traders
This article reviews several key recent cases heard by English courts on issues of shipping and maritime law, which raise matters of key importance for commodities traders, shipowners, charterers and other parties involved in the supply chain. Disputes that take place between commodities traders frequently involve issues of proper mitigation of damages, limitation of liability in case of default of contractual obligations, measure of damages and sometimes even correct interpretation of the terms under the International Convention for the Unification of Certain Rules of Law relating to Bills of Lading (the “Hague Rules”) for the purposes of limitation of liability in case of carriage of goods by sea.
Insolvency regulation is customarily considered a sensitive area with many pitfalls, and this causes fear in investors. Consequently, it is critically important to set favorable rules at all stages of doing business – establishment, operational activity and exits. Olena Volianska, partner at LCF Law Group, who supported a series of landmark bankruptcy proceedings across the most strategic economic sectors, has seen the situation from the inside out. She’s drawn our attention to those changes that should bring certainty and credibility in Ukrainian law, and explained the developments in the profession of bankruptcy trustees.