Aspen Underwriting Ltd & Ors v Kairos Shipping Ltd & Ors [2017]

Commercial Court
Written By Louise Glover

Aspen Underwriting Ltd & Ors v Kairos Shipping Ltd & Ors [2017] EWHC 1904 (Comm) - 27July 2017 (Teare J)

“Pursuant to a settlement agreement, H&M underwriters paid sums to its insured's Netherlands-based Bank, following the loss of the Vessel `Atlantik Confidence'. The insurers have now sought to recover those sums on the basis that the Vessel had …

“Pursuant to a settlement agreement, H&M underwriters paid sums to its insured's Netherlands-based Bank, following the loss of the Vessel `Atlantik Confidence'. The insurers have now sought to recover those sums on the basis that the Vessel had been deliberately cast away. The Court found that the exclusive (English) jurisdiction clauses in the policy and in the settlement agreement did not bind the Bank. However, in so far as underwriters' claim was based on a tort (namely the insured's misrepresentation on its own and the Bank's behalf as to the cause of the loss) that tort was committed in England, giving the Court jurisdiction over the Bank.”

Louise Glover
E. G. Arghyrakis & Co.
02nd August 2017

Louise Glover
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