Background
In a recent Singapore Court of Appeal case [1] the claimant supplied bunkers to the defendants ship. The terms of the bunker supply contract required payment within 30 days of delivery. Three days before payment fell due, the claimant demanded immediate payment for the bunkers by close of the same business day. The claimant requested immediate payment, before the actual payment date, in view of the recent insolvency of a company which appeared to be the group owner of the ship.
When no payment was received, the claimant commenced in rem proceedings and arrested the ship in Singapore on the basis that the defendant had committed an anticipatory breach of contract, that is: having a clear…
Read the full article at: http://www.hellenicshippingnews.com/stx-mumbai-is-insolvency-alone-capable-of-amounting-to-an-anticipatory-breach-of-contract-maybe-well-at-least-in-singapore/