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Blue Bonds: Making a splash in the Capital Markets
In 2018, the Republic of Seychelles launched the first-ever “blue bond”, with the support of the World Bank Group and the Global Environment Facility.
Global | Publication | September 2024
Employment Appeal Tribunal upholds decision of Employment Tribunal that it had jurisdiction to hear a claim for unfair dismissal brought by an employee because the seafarer’s “base” was her home rather than her “tours of duty” location.
In an employment case between a Guernsey-registered company and a stewardess, the UK Employment Appeal Tribunal (EAT) concluded that it has jurisdiction to hear a claim brought by the employee even though the vessel that was deemed as that employee's ‘place of work’ under the employment contract never entered the UK territorial waters. The EAT held that in order to confirm the “base” of a peripatetic employee, an entire factual matrix should be considered, such as: relevant employment contract (including its governing law and jurisdiction clauses); employee’s place of residence; paid travel expenses to/from place of work; location where work commences/ends; and location of employee’s bank account and relevant tax authorities.
This case recognises that the UK courts may recognise jurisdiction over any employment claim brought by an employee who may not work in the UK or within UK territorial waters but has a “sufficiently strong” employment relationship with the UK in the wider context of that employee’s circumstances.
Yacht Management Company Ltd v Gordon & Anor (JURISDICTION; territorial jurisdiction) [2024] EAT 33. NRF’s blogpost on this case can be found here and the full judgment can be found here.
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In 2018, the Republic of Seychelles launched the first-ever “blue bond”, with the support of the World Bank Group and the Global Environment Facility.
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We are delighted to be participating in Marine Money Week New York 2025. As one of the landmark events for the global shipping finance community, and with the global shipping and maritime industry at such a pivotal juncture, we look forward to catching up with clients and contacts to continue discussions around navigating the current challenges and opportunities.
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On 8 May 2025, the Court of Justice of the European Union (the CJEU) delivered its ruling in case C-581/23 (the Ruling), providing guidance on one of the conditions for an exclusive distribution agreement to benefit from the block exemption under Article 4(b)(i) of the 2010 Vertical Block Exemption Regulation (the VBER)1, notably the so-called ‘parallel imposition requirement’.
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