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A cost-effective alternative
| 题名： | A cost-effective alternative |
| 正文语种： | eng |
| 作者： | ERIK VAN WELLEN |
| 摘要： | As a response to the COVID-19 pandemic, countries across the globe such as France, Spain, the UK, and the US have amended their insolvency legislation. This sensible reaction was aimed at assisting otherwise healthy companies to endure and not to perish during this event. In the UK for example, this saw the introduction of the CIGA 2020. One of its effects is that a service provider - for example, a landlord, energy supplier, or port - can neither terminate contracts nor terminate a supply or even "do any other thing" when a company enters insolvency proceedings. This broad shield was raised in P&O Princess Cruises International Ltd v The Demise Charterers of the Vessel Columbus ([2021] EWHC 113 (Admlty)). This case centered around an international cruise liner group failing as a result from the pandemic, with its UK business going into administration and two of its ships that it had demise chartered through Liberian subsidiaries got arrested and sold with the proceeds paid to court. The port where the vessels had been laid up claimed unpaid dues, some at a low pre-agreed rate of £3,000 per vessel per week, but some at the - approximately 31 times higher -standard rate from the date of administration. As the port's claim took priority and with the standard rates likely to consume an important amount of the funds from the sale, the other claimants challenged this entitlement citing the Insolvency Act 1986 and CIGA 2020. |
| 出版年： | 2021 |
| 期刊名称： | Ports & harbors |
| 卷： | 66 |
| 期： | 5 |
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