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The Financial Restrictions (Iran) Order 2009 and a licence made under it did not render illegal the provision of cover by a P&I club to an Iranian shipowner, nor had the insurance contract been discharged by reason of frustration

Reed Smith LLP
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United Kingdom
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December 3 2010

In Islamic Republic of Iran Shipping Lines v Steamship Mutual Underwriting Association (Bermuda) Ltd & HM Treasury 2010 EWHC 2661, the court determined whether the provision of insurance cover by the Defendant P&I club to the Claimant Iranian shipowner had been rendered illegal, and further whether the contract of insurance had been discharged by frustration

Sanctions update

Reed Smith LLP
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European Union, Iran, Libya, Syria, United Kingdom, USA
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May 13 2011

This is a two part sanctions update

Current Search

Jurisdiction - United Kingdom
Workarea - Insurance & Reinsurance
Workarea - Litigation
Workarea - Trade & Customs
Firm Name - Reed Smith LLP

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The Financial Restrictions (Iran) Order 2009 and a licence made under it did not render illegal the provision of cover by a P&I club to an Iranian shipowner, nor had the insurance contract been discharged by reason of frustration

Sanctions update

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