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High Court Sides With Chinese Insurers In Oil Tanker Fight

Law360, London (December 6, 2017, 2:48 PM GMT) -- Chinese insurer Ping An has avoided having to pay out $2.1 million toward the cost of dealing with a damaged oil tanker’s cargo after a U.K. High Court judge found that the ship’s owners had failed to properly maintain the vessel, which meant it was unseaworthy when it was put to sea.

Judge Nigel Teare said Ping An Property and Casualty Insurance Co. of China Ltd. could not be held liable for losses caused when Cape Bonny, an oil tanker owned by German company Tankschiffahrts GmbH,...
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