Shipowner Drops $1.6M Stranded Barge Suit Against Insurer

Law360, London (November 17, 2020, 6:03 PM GMT) -- A Dubai shipowner has dropped its London lawsuit against one of India's largest insurers seeking to recoup $1.6 million spent hauling a barge back to port during foul weather seven years ago.

Vessel owner Riverstone Services Ltd. and Jampur International FZA — manager of the tug that was hauling the ship — have discontinued their case against New India Assurance Company Ltd., according to a Nov. 10 High Court order.

Representatives for the parties did not immediately respond to requests for more information on the end of the litigation.

The claimants said in their suit that New India Assurance was liable...

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