Insurers Push For Further Costs In Fake Pirate Plot Suit

Law360, London (November 21, 2019, 6:05 PM GMT) -- Insurers on Thursday called for a Greek bank to pay further legal costs in addition to the £8.7 million ($11.2 million) already paid after the bank’s $77 million claim in a case over a fake pirate attack was thrown out last month.

Lawyers for Talbot Underwriting, Hiscox and eight other insurers told the High Court that Piraeus Bank AE should have to pay further indemnity costs in addition to ordinary costs for losing the case. Indemnity cost orders are normally made when the judge finds the claimant acted unreasonably, or outside the norm, in pursuing the case.

Thursday’s hearing relates to...

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