Insurer Entitled to Lien for Value of Insurance Provided

Thursday, September 28, 2006
The U.S. Court of Appeals for the Eleventh Circuit ruled that an insurer that provides marine insurance for a vessel is entitled to a maritime lien for the value of the insurance provided. In the instant case, claimant provided marine insurance for a cruise ship. Arrangements were that the premium was to be billed in six installments spread over several years. The ship owner went bankrupt and claimant filed its claim in the subsequent admiralty proceeding. The district court ruled that the insurer was only entitled to a lien in the amount of the premiums for which it had sent invoices prior to the bankruptcy. The appellate court reversed, holding that the maritime lien arises automatically upon the furnishing of the necessary, without regard to when an invoice may have been issued. On a related issue, the court held that the insurer is not entitled to a maritime lien for having insured the vessel while it was under arrest, because the insurer did not obtain prior approval from the court for providing such insurance. Dresdner Bank AG v. M/V Olympia Voyager, No. 05-12220 Source: HK Law
Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Master Fined After Wind Farm Collision

The master of a wind farm support vessel has today been made to pay £3,000 in fines and costs after pleading guilty to breaches of maritime collision regulations.

Polar Code Afoot

The IMO is on the verge of adopting the Polar Code, something that is important and long overdue. The International Maritime Organization (IMO), a specialized agency of the United Nations,

Halliburton to Settle US Gulf Spill Claims for $1.1b

Halliburton Co said it reached a $1.1 billion settlement for a majority of claims against the company for its role in the BP oil spill in the Gulf of Mexico in 2010.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0788 sec (13 req/sec)