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Contract – Parties to contract. The claimants brought contractual claims, alleging breach of contract, under which a freight forward agreement position was to be transferred to the first claimant, under a guarantee, whereby the sixth defendant undertook to buy back the positions. The Commercial Court held that first claimant was entitled to recover from the defendants damages for losses flowing from the failure to buy back the forward positions, with credit allowed for payments made by the defendants or on their behalf and freight discounts allowed against the sums due. The fourth defendant was entitled to recover for the diminution in the value of his shareholding in a company, which owned the first defendant company.
Contract – Parties to contract. The claimants brought contractual claims, alleging breach of contract, under which a freight forward agreement position was to be transferred to the first claimant, under a guarantee, whereby the sixth defendant undertook to buy back the positions. The Commercial Court held that first claimant was entitled to recover from the defendants damages for losses flowing from the failure to buy back the forward positions, with credit allowed for payments made by the defendants or on their behalf and freight discounts allowed against the sums due. The fourth defendant was entitled to recover for the diminution in the value of his shareholding in a company, which owned the first defendant company.
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