Insurers Sue To Block Shipper's Bid For $50M Payout

Law360, London (August 2, 2019, 6:16 PM BST) -- Italian insurer Generali Italia SpA and 20 underwriters have accused the owners of a ship of misleading them about the vessel's true value, telling a London judge they do not have to pay out on a $50 million policy after the ship capsized.

The consortium told the High Court they are under no obligation to honor polices taken out by Pelagic Fisheries Corp. and the Greece-based Fairpoint Shipping Ltd. — which owned and managed a freezer stern trawler that sank off the Gulf of Guinea in February 2017 on a fishing expedition to Somalia.

The defendants have submitted a claim for...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Related Sections

Law Firms

Companies