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Navigating the IPO
Taking your company public is an important milestone, and whilst the landscape for IPOs is complex and dynamic, choosing the right path is essential.
Global | Publication | December 2024
In Stournaras Stylianos Monoprosopi EPE v Maersk A/S [2024] EWHC 2494 (Comm), the High Court considered whether Maersk A/S (the Defendant), had breached its obligations as a carrier, with regard to the transportation of goods by sea.
Stournaras Stylianos Monoprosopi EPE (the Claimant) alleged that the carrier as Defendant was responsible for failing to deliver promised goods. Their ships held containers with worthless concrete blocks weighing significantly less than the intended copper. The Claimant contended that the Defendant ought to have suspected fraudulent activity by the shippers and failed to perform reasonable checks of the order and the condition of goods for shipment when the containers weighed far less than the shippers had stated in their instructions.
The judge found in favour of the Defendant that the weight of cargo was used for its stowage plan and weight discrepancy is not evidence of fraudulent activity. An inspection of the external shell of the container was reasonable and the bills of lading complied with the shipping instructions. The Defendant did not owe the Claimant a duty of care for protection against fraud.
Further reading: the full case can be found here.
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Taking your company public is an important milestone, and whilst the landscape for IPOs is complex and dynamic, choosing the right path is essential.
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