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Extension of Rule B jurisdiction to GAFTA contracts


Published: 25 September 2008
Author: Richard Black, Patric McGonigal

The recent decision in Noble Resources v Yugtranzitservix (2008) makes way for a significant expansion of the Rule B jurisdiction which offers a claimant a means of seizing the property of a defendant, in particular electronic funds passing through New York's USD clearing houses. This decision suggests that a dispute arising in respect of a GAFTA sales contract may confer a Rule B jurisdiction providing it raises issues which are sufficiently connected to the business of maritime commerce.