Sea Emerald ruling warns over refund guarantees

October 7, 2008 The danger of going on holiday in August is that this is the time that judges quietly catch up on writing and handing down judgments which risk slipping by unnoticed. This year is no exception and the recent decision in Sea Emerald S.A. v. Prominvestbank [2008] EWHC 1979 highlights the importance of ensuring that refund guarantees issued in connection with shipbuilding contracts are signed by employees with full and proper authority.

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