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The arbitral tribunal appointed determined that, in applying the terms of the force majeure clause in the COA, the problem could have been “overcome by reasonable endeavours from the Party affected”. This was on the basis that “reasonable endeavours” required MUR to accept RTI’s proposal to pay in Euros, which the tribunal viewed as a “completely realistic alternative” to payment in US dollars. As a result, the tribunal found in favour of RTI.
MUR obtained leave to appeal under section 69 of the Arbitration Act 1996 on a point of law, namely whether “reasonable endeavours” extended to accepting payment in (non-contractual) Euros instead of (contractual) US dollars. The High Court allowed MUR’s appeal. RTI then appealed to the Court of Appeal. The case note on the High Court judgment can be found here[[https://www.onlinedmc.co.uk/index.php/MUR_Shipping_BV_v_RTI_Ltd]]
'''Judgment'''