Court Of Appeal Rules A Limitation Fund Can Be A Guarantee As An Alternative To A Payment Into Court
In KAIROS SHIPPING LTD & STANDARD CLUB LTD V ENKA & CO LLC & ORS 2014 EWCA Civ 217, Karios sought a declaration that it was entitled to constitute a limitation fund (a fund providing a maximum limit for its claims liability under the International Convention on Limitation of Liability for Maritime Claims 1976) by means of a guarantee in the form of a letter of undertaking provided by a protection and indemnity (P&I) club. At first instance, Mr Justice Simon refused to grant such a...
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