Always on demand?
In a decision with potentially far reaching implications for the shipbuilding industry and for guarantees generally, the English Court of Appeal on 23 July issued a judgment addressing what makes a guarantee issued by someone other than a financial institution a "demand" guarantee versus a "see to it" guarantee. The Court rejected the application of a presumption that a guarantee issued by anyone other than a financial institution should be considered a "see to it" guarantee just because of the status of the guarantor.
Read our Shipping Offshore Update June 2021
In this Shipping Offshore Update we seek to address the legal developments relating to the shipping and offshore markets
Wikborg Rein has assisted with sale of Nordic Trustee
Wikborg Rein has advised Altor Fund IV with its divestment of Nordic Trustee to Ocorian.