UK Court of Appeal Decision – “Cross-Undertaking”

By the judgement of "Stallion Eight Shipping Co SA v Natwest Markets Plc (MV Alkyon) [2018] EWCA Civ 2760” dated 11.12.2018, Court of Appeal answered the question whether the Admiralty Court should order the release of a vessel from arrest unless the claimant provided a cross-undertaking in damages akin to the cross-undertaking routinely given by claimants who obtain freezing orders. And Court of Appeal confirmed that ship arrestor does not have to provide cross-undertaking in damages.