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Allianz Unit Avoids Payout Over Ship Grounded Off China

Law360, London (March 8, 2019, 3:57 PM GMT) -- The Austrian subsidiary of Allianz SE will not have to pay out for the costs of salvaging a container ship that was grounded off the Chinese coast in 2011 after an admiralty judge said the owners were at fault, ruling on Friday that the vessel was unseaworthy.

Judge Nigel Teare ruled that Allianz Elementar Versicherungs AG is not liable to contribute $800,000 that the owners of the ship had claimed. The owners had argued that the incident was caused solely by an uncharted shoal or shallow water.

“The vessel was unseaworthy before and at the beginning of the voyage from Xiamen...

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