HSBC Bank plc v Antaeus Shipping Co S.A. and others

Guarantee – Surety. The claimant bank was entitled to judgment against each of the four defendants, namely two companies, their management company (Pyrsos) and their 50% beneficial owner (X), who had provided corporate and personal guarantees, governed by Greek law, in relation to two separate loans made to the companies respectively in relation to two vessels. The Commercial Court rejected the defendants' defence that the claimant was in breach of certain provisions of the Greek Civil Code, thereby exonerating Pyrsos and X from their obligations under the guarantees.

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