King Crude Carriers SA and Others v Ridgebury November LLC and Others [2024] EWCA Civ 719 - Court of Appeal) Lord Justice Popplewell, Lord Justice Nugee and Lady Justice Falk) - 27 June 2024

Contract - Ship sale - Deposit - Cooperation - Condition precedent to payment of an accrued debt - Maxim that a person could not derive a benefit from their own wrong - Mackay v Dick principle

Three contracts for the sale of vessels, the MOAs, were concluded on 28, 29 and 30 April 2020 on an amended 2012 Norwegian Saleform. Although the MOAs differed as to parties, prices and dates, their other material terms were identical. The purchase prices were US$17.4 million, US$19.4 million and US$12.6 million respectively.