'Atlantik Confidence': No hiding place for fraudulent owners

The Old Library, Lloyd's
Wednesday, 22 November 2017
1:15 pm – 2:00 pm (UK time)
    • Alex Kemp, Senior Associate, Holman Fenwick & Willan
  • Marine & Energy

In this IIL marine & energy lecture Alex Kemp explained the 'Atlantik Confidence' case and how the fraud was proven, what ramifications this had for other stakeholders in the Vessel such as MII insurers and the liability insurers, and in particular what 'red flags' can be identified from Owner's financial circumstances.

In this case, cargo interests successfully argued that the Owners had deliberately scuttled the ship in the Indian Ocean and as a result were not entitled to limit their liability under the Convention on Limitation of Liability for Maritime Claims 1996. Alex also outlined the consequences of this case; that this was the first time that Owners have not been able to limit in the English Courts, and possibly the first time in any common law jurisdiction, but also how this case was decided on the balance of probabilities, which should assist insurers in investigating future claims where fraud is suspected.

By the end of this lecture members would have gained an insight into:

  • The underwriting and financial risks of over insurance
  • The valuation of fraudulent claims
  • Challenging fraudulent claims

Speaker Bio:
Alex Kemp works predominantly on 'wet' disputes including salvage, wreck removal, groundings, collisions, fires and piracy with a particular interest in container ship casualties of all types. Such disputes often require advice in respect limitation of liability, jurisdiction, insurance coverage and interlocutory applications. Alex is also involved in advising on contractual issues arising out of casualties including charterparty/VSA/slot charter disputes and marine insurance disputes of all kinds. Alex has been named as a next Generation Lawyer in the Legal 500 UK 2017.

Charles Fernandez ACII, Head of Marine Liability & Hull, Sompo Canopius.

  • The Old Library, Lloyd's
  • One Lime Street
  • London
  • EC3M 7HA
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3/4 hours' CPD can be claimed for this event if relevant to your learning and development needs.

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