Libyan Insurer Denies $41M Liability Over Seized Ship

Law360, London (December 18, 2019, 6:23 PM GMT) -- A Libyan insurer is pushing back against a shipowners' claim in London for $41.5 million over a detained vessel, claiming a court ruling overturning the basis for seizing the cargo container doesn't mean the company has to pay up. 

Attorneys for the Libya Insurance Company flatly rejected the notion that a decision by Bulgarian maritime authorities to seize the tanker Badr — which was later deemed illegal by Bulgaria's Supreme Court — fell outside the "ordinary judicial processes" in that country, according to a filing with the High Court on Monday.

The insurer balked at recent arguments made by the owners, Libyan Navigator Ltd....

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