*Globalia Business Travel SAU (formerly TravelPlan SAU) of Spain v Fulton Shipping Inc of Panama

Contract – Repudiation. The Supreme Court, in allowing the owners' appeal, ruled on the assessment of damages arising out of the repudiation of a charterparty by charterers of a cruise ship (the vessel). Concerning the quantum of damages to be paid to the owners, the court held that the charterers were not entitled to a credit of €11,251,677 to reflect the difference in the value of the vessel in 2007, when the owners had sold it shortly after the charterers had redelivered it, and its diminished value in 2009, when it would have been redelivered if the contract had not been repudiated. The court held that the benefit to be brought into account had to have been caused either by the breach of the charterparty or by a successful act of mitigation, and that, in the present case, the difference or loss had not, on the face of it, been caused by the repudiation of the charterparty.

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