TUFTON ASSOCIATES LTD v. DILMUN SHIPPING

[1992] 1 Lloyd's Rep. 71

QUEEN’S BENCH DIVISION(COMMERCIAL COURT)

Before His Honour Judge Diamond, Q.C. (Sitting as a Judge of the High Court)

Ship finance - Arrangement fee - Plaintiffs agreed to arrange ship finance for defendants - Finance offer made by bank - Whether plaintiffs effective cause of offer - Whether terms of bank’s offer different from finance envisaged by plaintiffs and defendants’ contract - Whether plaintiffs failed to exercise due expedition in the arrangement of finance - Whether plaintiffs entitled to an arrangement fee.