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Owner Denies Sinking Ship, Demands Insurers Pay $22.5M

Law360, London (August 9, 2018, 4:30 PM BST) -- A Panamanian ship owner has issued a $22.5 million countersuit at the High Court in London against a group of Lloyd’s of London insurers who are suing it for allegedly making an insurance claim on a vessel that was deliberately sunk.

The ship's owner, Flora Shipping, along with Alnak Shipping, a Turkish company that managed the vessel, claim that the group of 11 Lloyd’s of London insurers — which includes Hiscox, Catlin and U.S. firm Chubb — are liable to cover losses after the vessel, the...
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