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Firm Told To Value Sunken Ship In $23M Row With Insurers

Law360, London (December 18, 2018, 4:42 PM GMT) -- London's High Court has instructed a Panamanian shipping company to estimate the value of a sunken vessel at the center of its $22.5 million lawsuit, after its insurers insisted that the ship was worth less than $6 million.

High Court Judge Stephen Males told Flora Shipping Corp. Ltd. and the ship's managing company, Alnak Shipping, to estimate the disputed market value of the Mustafa Khan by Friday. The Mustafa Khan sank off the Italian coast in December 2016, triggering a legal battle between the ship's owner and a group of Lloyd's of London insurers that claim the vessel was sabotaged....

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