In an important decision for the P&I industry, on 6 March 2014 the Court of Appeal has ruled that a Limitation Fund can now be constituted by way of a Letter of Undertaking (“LOU”) given by a P&I Club, as opposed to a cash payment into court.
Clyde & Co were instructed by the owners of the vessel that was lost and their P&I insurers.
The vessel sank off Oman on 3 April 2013 following a fire on board and on 13 May 2013, Owners commenced limitation proceedings under the Convention on Limitation of Liability for Maritime Claims 1976 (as amended by the 1996 Protocol) (“LLMC 1976”) to limit Owners’ liability. To do so, Owners are required to establish a Limitation Fund for the limitation amount, calculated with reference to the vessel’s tonnage.
See attached file: Significant Legal Decision on Constituting a Limitation Fund by Way of a P&I Club Letter of Undertaking.pdf
英国法院重要判决 – 凭协会担保设立责任基金
2014年3月6日英国上议院作出了一项对保赔险业界具有重大意义的判决，即可以凭保赔协会出具的担保设立海事赔偿责任限制基金，而不再需要向法院支付现金。
Clyde & Co律所是本案灭失船舶的船东和保赔险保险人指定的诉讼代理人。
涉案船舶于2013年4月3日起火，随后在阿曼沿海沉没。同年5月13日，船东根据《1976年海事赔偿责任限制公约》(1996年议定书)(LLMC 1976)的规定启动责任限制程序。启动责任限制程序，要求船东根据船舶载重吨计算责任限制总额，并设立海事赔偿责任限制基金。
详细信息请参阅附件。
