It enables companies and individuals carrying on business in the United Kingdom to recover through the UK courts sums paid under multiple damage judgements given in overseas countries. The sums recoverable are those in excess of the compensation
for the actual loss suffered.
The Bill would repeal and supersede the Shipping Contracts and Commercial Documents Act 1964. The 1964 Act contains provisions to counter measures related to shipping under the laws of foreign countries. It also provides limited powers relating to the prohibition of compliance with requirements to provide commercial documents and information to courts and other authorities of foreign countries.
The new Bill would apply equally to all overseas countries. However, it is primarily a reaction to the accumulation of attempts by the United States, since the 1950s, to impose its own economic, and other domestic policies on individuals and companies outside its territorial jurisdiction, without regard for the trading interests of other countries.
There have been two major examples of this tendency recently. The first involves shipping companies.
In June of this year a US Grant Jury indicted several European shipping lines and individuals including two consortia in which there was a substantial British element and two British nationals for alleged offences under US antitrust legislation. The case was never proved but the lines and individuals were heavily fined and now face treble damage suits.
The British Government objected strongly to this action for two reasons. Firstly the activities in question would not have been illegal in Europe. Secondly, shipping is an international activity affecting the interests of all countries concerned. Any questions that arise should therefore be dealt with jointly. It is considered wrong in principle for the United States to exercise unilateral control over international shipping without regard for the economic interests and policies of other countries.
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