“…h include The Fanti and Padre Island (No 2)[1991] 2 AC 1, Schiffahrtsgesellschaft Detlev von Appen G.m.b.H v Voest Alpine Intertrading G.m.b.H (The “Jay Bola”) [1997] 2 Lloyd’s Rep 279, Through Transport Mutual Insurance Association (Eurasia) Ltd v New India Assurance Association Co Ltd (“The Hari Bhum”)[2004] EWCA Civ 1598, [2005] 1 All ER 7…”
“…t if it seeks to enforce those rights, it must do so by the contractually agreed mechanism (see e.g. not only The Jordan Nicolov at [15], but also The Jay Bola [1997] 2 Lloyd’s Rep 279 at 286 and Glencore International AG v Metro Trading International Inc [1999] 2 Lloyd’s Rep 632 at 645). However, this general rule must yield to any contrary …”
“…can only enforce those rights consistently with the terms of that contract. The principle was crisply explained by Hobhouse LJ (as he then was) in The Jay Bola [1997] 2 Lloyd’s Rep. 279, at p.286, with regard to rights acquired by insurers from voyage charterers:…”