Scotland Seeks To Tweak Deal After Ferry Fiasco Costs £5M

Law360, London (March 25, 2021, 5:26 PM GMT) -- A taxpayer-funded ferry service operating in Scotland is asking a court in London to approve changes to a deal with an insurance company after the government was left facing a £5 million ($6.9 million) lawsuit following the nationalization of a shipyard.

Caledonian Maritime Assets, owned by the Scottish government, said in a High Court claim that a subsidiary of Tokio Marine HCC is benefiting from a mistake that meant the company gave up insurance payments and took over a shipbuilding company in Glasgow that it had hired to construct two ferries.

Caledonian asked the court in March 3 filings at the court,...

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