U.S. court upholds British Arbitration Award

Thursday, May 27, 2004
In an unpublished opinion, the U.S. Court of Appeals for the Sixth Circuit affirmed a district court’s confirmation of a British arbitration award in favor of a protection and indemnity (P&I) club against plaintiff seamen. Acting on behalf of the seamen, a law firm sued States Steamship Company for alleged asbestos-related injuries. When States, which was in bankruptcy, did not answer, plaintiffs obtained a default judgment. Suit was then brought against two P&I Clubs that had insured States. One club prevailed on the “pay to be paid” provision in its policy. The suit against the second club was referred to arbitration in Britain in accordance with terms in the policy. The British arbitration was in favor of the club and included an award of legal costs and fees against plaintiffs. When defendant club sought to recover the award in U.S. court, plaintiffs contended that the award violated basic notions of morality and justice. The court found no useful purpose in issuing a detailed opinion affirming the district court order upholding the award. Aasma v. West of England Shipowners Mutual Insurance Assoc., No. 03-3223 (6th Cir., May 19, 2004). (HK Law)

People & Company News

STX to Slash Jobs, Sell Yard

To stat above water by restructuring, South Korean Shipbuilder STX Offshore & Shipbuilding Co. plans to lay off about a third of its workforce and sell a yard in France, says a report in WSJ.

Kongsberg Performs Well in Q2

Norwegian defence and marine technology company Kongsberg Gruppen's second quarter 2016 (Q2) financial results shows sales performance broadly in line with recent trends,

Rickmers Holding, E.R. Capital Drop Merger Plan

Rickmers Holding AG and E.R. Capital Holding have jointly decided not to pursue the merger of their ship management activities.   For many years the companies

Legal

SOS from Hanjin Shipping

The creditors' extended help is crucial for survival of Hanjin Shipping Co as its negotiations with owners of chartered ships over a cut in leasing rates and to

Hapag-Lloyd Shareholders Okays Merger with UASC

Hamburg-based ocean carrier Hapag-Lloyd said its shareholders approved all items on the agenda at Annual General Meeting, mainly the  share capital increase needed

Yangzijiang Shipbuilding to Slash 2,000 More Jobs

Chinese shipbuilder Yangzijiang Shipbuilding Holdings Ltd said it plans to cut 2,000 additional jobs, just under 10 percent of its current workforce, stepping up

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Port Authority Ship Repair Ship Simulators
rss | archive | history | articles | privacy | 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: 0.0863 sec (12 req/sec)