The parties disputed the price to be paid in a sale of shares under a contract for their sale. The company which owned a fleet of ships. The shares were sold by two Greek businessmen, Mr Mihail Tartsinis and Mr Antonis Nikolaou, to Navona Management Company (‘Navona’), a company incorporated in the Marshall Islands which is represented and controlled by a third Greek businessman, Mr Kriton Lentoudis. The contract was drafted by a Greek lawyer. The document, entitled ‘Share Transfer Agreement’, is however written in the English language and provides that it shall be interpreted in accordance with English law and that ‘all disputes hereunder shall be submitted to the exclusive jurisdiction of the Courts of England and Wales’.
It would be capricious if a document which the parties have agreed as the formal record of their contract could be altered to make it conform to the private intention of a party just because, although unknown to that party at the time, it turns out that the other party had a similar intention.
Judges:
Leggatt J
Citations:
[2015] EWHC 57 (Comm)
Links:
Jurisdiction:
England and Wales
Cited by:
Cited – FSHC Group Holdings Ltd v Glas Trust Corporation Ltd CA 31-Jul-2019
Rectification – Chartbrook not followed
Opportunity for an appellate court to clarify the correct test to apply in deciding whether the written terms of a contract may be rectified because of a common mistake.
Held: The appeal failed. The judge was right to conclude that an . .
Cited – FSHC Group Holdings Ltd v Glas Trust Corporation Ltd CA 31-Jul-2019
Rectification – Chartbrook not followed
Opportunity for an appellate court to clarify the correct test to apply in deciding whether the written terms of a contract may be rectified because of a common mistake.
Held: The appeal failed. The judge was right to conclude that an . .
Lists of cited by and citing cases may be incomplete.
Contract
Updated: 17 July 2022; Ref: scu.541533
