Shipowners Fight Insurers For $41.5M Over Detained Vessel
Law360, London (November 13, 2019, 6:41 PM GMT) -- The owners of a Libyan cargo ship seeking $41.5 million for a vessel that was seized and fraudulently detained by Bulgarian authorities disputed its insurer's claim that the Balkan nation’s actions were simply “court processes” and not an “insured peril.”
Libyan Navigator Ltd. and the General National Maritime Transport Co. — owner of the tanker Badr — bristled at the suggestion by Libya Insurance Co. that a detention order issued by the Bulgarian Maritime Administration was in response to any court order, saying in their High Court filing that it was an “executive act” made by the agency, and one that the Bulgarian...
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