Shippers Can't Recoup All Costs, Insurers Tell Supreme Court

Law360, London (April 10, 2019, 6:38 PM BST) -- A group of insurers urged the U.K.'s highest court on Wednesday to overturn a ruling that will force them to pay out on a damages claim from the owners of a ship that caught fire off the Egyptian coast, saying the shippers are only entitled to partial loss.

The insurers' lawyer Michael Ashcroft QC told a four-judge Supreme Court panel that the Court of Appeal was wrong when it ruled that costs for the recovery and repair of a ship incurred before the owner files a notice of abandonment, or NOA, can be included in a "constructive total loss" claim....

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