The court in Greenhill International Pty Ltd v Commonwealth Bank of Australia confirmed that silent confirmations of letters of credit fall outside the Uniform Customs and Practice for Documentary Credits 600 (UCP 600) and are governed purely by the express and implied terms agreed to by the paying bank and the beneficiary. However, the court
Fabio Miceli
The EU and UK approach to compensation for airline passengers favours consumer protection to the detriment of airlines
By Fabio Miceli on
A June 2014 judgment by the UK court of appeal found that airlines are liable for compensation under European Council Regulation No. 261/2004 to passengers where a flight has been delayed on account of an unforeseeable aircraft technical problem.
The Regulation and the court’s decision
Regulation 261 provides for compensation in the event of passengers…
FlySafair’s bid to take-off
By Fabio Miceli on
2013 saw the emergence of low-cost airline FlySafair. In June 2013 Safair applied for a licence to allow it to operate a commercial scheduled air service. The licence was granted by the Air Service Licensing Council.
Interdict
An interdict was sought restraining Safair from operating the commercial service on grounds that more than 25% of…
New arbitration rules make arbitration more efficient and arbitrators more accountable
The London Court of International Arbitration (LCIA) has revised its arbitration rules to make the arbitration process more efficient using requirements that include timetables, guidelines, emergency procedures and consolidation processes. These changes to the LCIA arbitration rules are in effect from 1 October 2014 and track the similar amendments to the UNCITRAL and the ICC…
Limited powers to set aside arbitrator’s decision
By Fabio Miceli on
The appeal court has again reminded us that when the parties choose to submit their dispute to arbitration and the arbitrator’s decision is final without a right to appeal in an appeal tribunal, the grounds for setting aside the arbitrator’s award are very limited.
Objections to the jurisdiction of the arbitrator or allegations of bias…
Contracting parties may not be bound if conditions precedent are not fulfilled
By Fabio Miceli on
The courts have reaffirmed that if suspensive conditions in an agreement are not fulfilled timeously the agreement will not be binding on the parties. This is not cured by either party performing in terms of the agreement.
Suspensive conditions and how they must be fulfilled must be precisely and carefully drafted.
Facts of the case…