Charles Buss
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19 Dec 2022
Shipbuilding: Can I Have A Refund?
In Havila Kystruten AS v Abarca Compania de Seguros AS,¹ in which Watson Farley & Williams LLP represented the successful Norwegian shipowner, an English court has provided helpful and very detailed guidance on a number of issues relating to the parties’ rights to terminate shipbuilding contracts as well as the nature and scope of refund guarantees.BackgroundRefund guarantees are the lifeblood of shipbuilding…
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06 Jun 2022
The ZouZou: MII to the Rescue?
A ship financier’s primary security is the mortgaged ship. If the ship becomes a total loss, the mortgage will provide no valuable security, leaving the financier to rely on its rights as assignee and loss payee (and occasionally as co-assured) under the shipowner’s marine insurance policies. However, the owner’s insurers may decline a claim, for example on grounds of breach of warranty or material non-disclosure…
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