UK Insurers Hit Out At Competition Claims In France Oil Fight

Law360, London (November 13, 2020, 2:55 PM GMT) -- Insurers fighting liability for tens of millions of euros in damage done to the French coast by a sunken oil tanker have denied claims by the country that a key contract clause is unenforceable because it violates European antitrust law.

The London Steam-Ship Owners' Mutual Insurance Association said it was an "abuse of process" for France to argue that a clause limiting liability in the contract it drew up with for the owners of the MV Prestige stemmed from an anti-competitive agreement.

The ship sank off the coast of Spain in 2002, causing what a Spanish court ruled was $1 billion of environmental...

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