ABSTRACT
As the arbitrator and judge both pointed out, the loss of the vessel would not put an end to all acts of management which required to be performed, such as repatriating and paying off the master and crew and dealing with all outstanding claims. On the other hand, these matters might take a long time to clear up entirely, and it could hardly be suggested that the managers should be entitled to continue to receive their full remuneration until the last detail had been dealt with. This might take many months and involve little work towards the end. Accordingly, if the arbitrator’s solution is not correct, then it would no doubt be necessary to imply a term to the effect that the remuneration should gradually be reduced in proportion to whatever work might remain to be done, bearing in mind that the main subject matter of the agreement, the management of the vessel’s employment and trade, had disappeared. In the result, therefore, the financial consequences might well turn out to be virtually the same on either solution.
