Lloyd's Law Reports

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

Document

COMDEL COMMODITIES LTD. v. SIPOREX TRADE S.A.

[1997] 1 Lloyd's Rep. 424

COURT OF APPEAL

Before Lord Justice Butler-Sloss, Lord Justice Peter Gibson and Lord Justice Potter

Practice - Mareva injunction - Discharge - Buyers failed to open letters of credit complying with contract - Sellers invoked performance bonds - Dispute referred to arbitration - Buyers obtained Mareva injunction - Application to discharge - Whether injunction should be discharged on grounds of delay in prosecuting claim.

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