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Greek Bank Denies Botching Insurance Payout In Tanker Row

Law360, London (April 23, 2019, 5:55 PM BST) -- A Greek lender suing the owners of a damaged oil tanker for failing to repay $8.1 million in loans and interest has told a London court that it acted fairly when it settled an insurance claim on their behalf for just a fraction of the potential payout.

Aegon Baltic Bank filed a riposte Thursday with the High Court denying the vessel owners' claims that its takeover of insurance negotiations sabotaged the potential recovery for the irreparable ship. 

 

Renzlor Shipping Ltd. and Oceanwide Shipping Ltd. have argued that the bank could have pursued a $10.75 million insurance claim for the unsalvageable ship but instead...

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