Wrongful to refuse a reasonably satisfactory LOU offered pursuant to ASG2, holds the Court of Appeal

The Court of Appeal has found that if parties agree to a collision jurisdiction agreement (CJA) in the form proposed by the Admiralty Solicitors Group (ASG2), and if the party who is to be secured is tendered security which is objectively satisfactory, then the recipient is obliged to accept it; to refuse to do so is a breach of the CJA.