Settlement Agreement Interpretation

The Tribunal found that the proposed tripartite settlement agreement had a broad enough interpretation to allow for the settlement of all „claims,“ not just those relating to the original litigation, and that the „claims“ related to the claim at issue. Two recent judgments in the long-standing Starlight Shipping Company insurance dispute against Allianz Marine – Aviation Versicherungs AG – EWCA 1010, July 18, 2014 and [2014] EWHC 3068 (Comm) September 26, 2014 clarified aspects of the interpretation of transaction agreements. The Court of Appeal confirmed that Fiona Trust/Privalov [2007] Bus LR 1719, whereby subtle distinctions should be made between words such as „under“ or „in reference“ to arbitration agreements, should apply equally to arbitration agreements and transaction clauses. The terms „full and final settlement“ indicated the parties` intention to include in the comparison all claims relating to the loss of the vessel. In another Flaux J case, it was found that the transaction agreements also covered all claims against third parties (. B, for example, workers, individual insurers, legal advisors). The rights of the shipowner in Greece against these third parties would therefore have been contrary to the transaction treaty, so that third parties would be entitled to a decree on benefits and special damages. We have previously referred to the decision of the English Court of Appeal of Oceanbulk Shipping – Trading SA/TMT Asia Limited [2010] EWCA Civ 79,[1] which should extend the important question of whether the exceptions to the „rule without prejudice“ should be extended in order to deal with pre-contract negotiations in order to interpret the terms of a transaction agreement. Summary of The Judgment of Compensation (to be assessed) for breach of jurisdiction The Court of Appeal found that the owners were in breach of the jurisdictional rules and Burton J had the right to make a decision on the CPR Part 24 damages claims (noting that, in Ellerman Lines Ltd/Read [1928] 2 KB 144, damages had been awarded in similar circumstances).

The owners` failure was part of the lawsuit. Whether they succeed in Greece or have failed in England does not matter. In the same Greek procedure, Starlight and OME also filed complaints, not only of the aforementioned insurers and insurers, but also of their employees, individual insurers, a law firm and individual lawyers, as well as a loss-regulating firm, including the most designated persons (third parties). Flaux J. had to decide whether these rights also violated the transaction agreements. As part of the two main transaction agreements, Starlight and OME agreed to obtain a full and final amount of all claims against insurers.