Insurer Says Group Conspired To Abandon Ship In $18.5M Suit

Law360 (November 18, 2019, 10:18 PM EST) -- A German insurer filed an $18.5 million suit in a New York federal court Monday alleging two ship owners and the ship's insurance provider conspired to abandon a deficient vessel carrying a shipment of soybeans because it was facing tens of millions of dollars in claims.

Great Lakes Insurance SE accused the American Steamship Owners Mutual Protection and Indemnity Association Inc. — known as the American Club — of conspiring with two vessel owners to abandon a ship called the M/V Adamastos in Brazil in 2014. The owners are Efstathios "Stathis" Gourdomichalis and his brother George Gourdomichalis, who is chairman of...

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