Shipper Shoots For $1.9M Payout From Chinese Insurer

Law360, London (August 28, 2020, 1:59 PM BST) -- A shipping company whose vessel sank is looking to retrieve $1.9 million under a $38 million marine policy, after Chinese insurer Sunshine Property and Casualty refused to pay out and sued the ship's owner for allegedly overvaluing the freezer trawler.

Pelagic Fishing Corp. said that it is claiming a $1.9 million payout at the High Court from Sunshine Property and Casualty Co. for the Kapitan Veselkov, which went down off the coast of Guinea, West Africa

The amount represents 5% of the fishing company's $38 million hull and machinery cover with Sunshine's Shenzhen office. Pelagic said in its Aug. 21 counterclaim...

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

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!