A recent judgement (Aqua Marine Navigation & Shipping Company SA v Pol-Euro Lines Shipping pl) in the First Hall of the Civil Court held that no counter-security will be required in the absence of a valid reason for the issuance of a section 37 injunction under Chapter 234 of the Laws of Malta.
Foreign company Aqua Marine Navigation & Shipping Company SA requested the court to issue a ‘section 37 injunction’ against the Malta-registered vessel Sider Lipari. Such injunction was issued on March 5, 2015, by the First Hall of the Civil Court and ordered that the Registry of Shipping be notified in terms of article 37 of chapter 234.
Pol-Euro Lines, thereafter, requested a counter-security to make good any damages which it might suffer, if Aqua Marine’s claims proved to be unfounded. The court noted that it had wide discretion to request a counter-security but concluded that no counter-security was necessary in the circumstances in its decree of March 5, 2015.
Dr Jotham Scerri Diacono was acting on behalf of ‘Aqua Marine Navigation & Shipping Company SA.
To read the entire law report, published on the Times of Malta (18 May 2015), click here.