We have already reported on the decision of the Court of Appeal of England in Oceanbulk Shipping & Trading SA v TMT Asia Limited  EWCA Civ 79, which addressed the important issue of whether the derogations established from the “prejudice rule” should be extended to pre-contractual negotiations for the purposes of interpreting the terms of a settlement agreement. The Court of Appeal found that the Greek claims had been clearly raised in connection with the loss of the vessel and therefore fell within the scope of the rules on compensation and composition of settlement agreements. The parties clearly intended to “combine” the determination of the transaction and the indemnification provision and to no longer make subtle distinctions between words such as “under” or “as far as” has been made since the decision of the House of Lords in Fiona Trust against Privalov  Bus LR 1719. Although the Fiona Trust case refers to an arbitration agreement, the Court of Appeal stated that the same principle should apply to forum agreements. Similarly, settlement clauses are analogous to arbitration and jurisdiction clauses and should therefore be of reasonable economic importance; The term “complete and final transaction” refers to the intention of the parties to ensure that all claims related to the loss of the vessel are included in the transaction. You can find information on the impact of the transaction agreement on the dispute in the practice note: transaction agreements – the impact on litigation. The applicant relied on decision BCCI/Ali to argue that the scope of the declassification clause in the settlement agreement should be limited by the circumstances. The applicant referred, inter alia, to Lord Bingham`s “alert principle”; that in the absence of plain language, the Tribunal will only be able to conclude slowly that a party intended to give up rights and claims of which it was unaware and could not have been aware. · pay more money to a “compensation fund” to cover insurers` costs related to the Greek procedure and liability to third parties.
The objective was to support the exemption obligation in settlement agreements. · Grant of a new procedure in England (the 2011 procedure), without prejudice to its applications in the 2006 procedure, with a large number of claims, including violation of jurisdiction clauses in the policies, violation of the provisions of the concordat agreement and statements that the concordat agreements (which contained compensation provisions) dismiss all claims against them. The Court (Judge Max Barrett) reviewed the case-law and found that the wording of the settlement agreement or other evidence available to the Court of Justice (referring to an affidavit by Ennis` lawyer) contained nothing to indicate that a requirement for the mortgagee to sell the immovable property was in possession of the “presumed intention of the parties”. or if the court reads the settlement agreement in this way, “it would give the transaction such commercial efficiency that it should in any event be considered by both parties”. The Court held that the literal, natural and correct interpretation of the concordat agreement was that it was complete in what it found and that it did not contain the underlying condition that the McKenna`s wished to read by the Court of Justice (i.e.: the sale of Ennis Property as a mortgage lender in possession of the mortgaged immovable property, because it was never agreed between them or was not considered. Transaction agreement. . . . .