GYLLENHAMMAR & PARTNERS INTERNATIONAL LTD AND OTHERS v. SOUR BRODOGRADEVNA INDUSTRIJA

[1989] 2 Lloyd's Rep. 403

QUEEN’S BENCH DIVISION(COMMERCIAL COURT)

Before Mr. Justice Hirst

Shipbuilding contract - Breach - Plaintiffs exercised option to buy sister ship from shipbuilders - Shipbuilders failed to obtain bank guarantee and necessary permissions and approvals - Whether contract null and void - Whether plaintiffs entitled to specific performance or damages in lieu.