
Publication
Essential Corporate News – Week ending 23 May 2025
The Companies and Limited Liability Partnerships (Annotation) Regulations 2025 and an accompanying Explanatory Memorandum were published on 14 May 2025.
Global | Publication | September 2024
English Commercial Court determines that in a series of back-to-back bareboat charters entered into to finance the acquisition of two ferries, the termination of the head charters automatically terminates the sub-charters.
The Commercial Court determined that, in the case of a series of back-to-back bareboat charters, when the head bareboat charter is terminated, the rest of the charter chain should also be treated as being automatically terminated as the right to redelivery of the vessel on termination is an essential part of financing arrangements of this kind. The court accepted that it was not a straightforward point but, on balance, and given the particular contractual arrangements in the case, the court dismissed the defendants’ assertion that upon termination of a head charter, a relationship of bailment arose between the owner (as original bailor) and the sub-charterer (as sub-bailee).
Whilst the case turned on its facts, lenders and owners will welcome this judgement as the right to redelivery on termination is an essential part of financing arrangements of this kind.
SY Roro 1 Pte Ltd v Onorato Armatori Srl [2024] EWHC 611 (Comm). The full judgment can be found here.
Publication
The Companies and Limited Liability Partnerships (Annotation) Regulations 2025 and an accompanying Explanatory Memorandum were published on 14 May 2025.
Publication
The Regulator’s annual funding statement for private sector DB schemes was published on April 29, 2025. It is the first such statement since the new DB funding regime came into force from September 22, 2024, onwards.
Publication
On April 29, 2025, Minister for Pensions Torsten Bell confirmed that new regulations will be laid in the autumn to allow for multi-employer collective defined contribution (CDC) schemes to be established. The related press release can be read here.
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