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On 5 June 2014, the Court of Appeal dismissed the appeal of the owners of Falkonera, a very large crude carrier (VLCC) against the judgment of Mr Justice Eder.
The court determined a number of issues about the nature and effect of a policy of professional liability insurance.
In May 2006, the Alexandros T sank off the shore of South Africa; her owners commenced proceedings in the Commercial Court against the vessel’s insurers for an indemnity.
The Commercial Court dismissed an application by PhoenixTide to stay or dismiss proceedings brought by Tidewater in London and served on PhoenixTide in Nigeria...
At a trial of the action, Mr Justice Field held that there had been a breach of the typhoon warranty.
In an appeal from Teal Assurance v WE Berkeley Insurance, the Supreme Court has the opportunity to consider and perhaps jettison the hold harmless fiction.