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What constitutes a performance bond?
  • Morton Fraser
  • United Kingdom
  • February 16 2011

Mertiz (the "Guarantor"), an insurance company, had issued advance payment guarantees to Jan de Nul (the "Buyer") guaranteeing the repayment of payments made by the Buyer under 3 shipbuilding contracts with a Korean shipbuilding company (the "Builder"

Wreck Removal Convention Act 2011
  • Morton Fraser
  • United Kingdom
  • September 20 2011

The Wreck Removal Convention Act 2011 received Royal Assent on 12 July 2011 and includes provisions on the reporting, locating, marking and removal of wrecks and provisions regulating liability for costs involved in dealing with wrecks

Is a P & I Association able to change its mind over what is covered by a policy?
  • Morton Fraser
  • United Kingdom
  • February 28 2012

The recent case of Micoperi SRL v. Shipowners’ Mutual Protection & Indemnity Association (Luxembourg) addressed a situation where a P & I Association first accepted that a claimant was covered but consequently tried to claim otherwise