Swiss Bank Dodges Liability For Soybean Delivery Delays

Law360, London (July 28, 2020, 6:11 PM BST) -- A London judge ruled Tuesday that a Swiss bank is not responsible for the cost of delays of shipping and delivering 7,000 metric tons of soybeans since the vessel owners did not spell out those terms in a detailed cargo receipt.

Judge Mark Pelling QC, sitting for the High Court, dismissed the shipowner's efforts to overturn a London arbitrator's finding that Arab Bank (Switzerland) Ltd. is not on the hook for damages caused by delays delivering the soybean meal.

While the bank agreed to shoulder the cost of discharging the cargo when it issued a new bill of lading, or cargo...

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