General average shadows. How to refund costs: 13 years after the disaster.
In 2005, m/v “Norasia Taurus” owners declared on the general average due to container inflammation while the vessel was leaving the Damietta seaport (Egypt). The fire resulted in 55 fire-damaged containers and 59 water-flooded containers in the process of fire fighting.
In 2010, Albatross Adjusters Limited (former SHH Stichling Hahn Hilbrich) drafted the average adjustment. The claim security amount exceeded significantly actual losses, which resulted in partial refund of costs remitted by the cargo owners in 2005. Since several companies could not receive their funds due to loss of documents (average adjuster’s receipt), the cost refund was postponed till 2016.
Since 2005, Interlegal lawyers cooperated with the suffered Clients. But the most interesting case was cooperation with the Client who applied to us in 2016. Case specification was not only loss of the original average adjuster’s receipt (principal document required for successful cost refund) but also winding-up the company — cost beneficiary.
Interlegal several subdivisions led the case, namely: held negotiations with the average adjuster, drafted documentary scheme of cost refund, while corporate lawyers studied register of one of the European jurisdictions upon restoring the company and supported the bank account opening procedure.
In early 2018, Interlegal last Client refunded the unused costs from the cargo release guarantee. Nineteen months of hard legal work with the general average adjuster — Albatross Adjusters Limited — resulted in a successful cost refund.
Apart from the principal balance amount, the Client received also a pleasant bonus in the form of interests for using funds while they were deposited at the average adjuster’s.
Our principles of cooperation with clients do not allow us to disclose company names and other confidential information.
- BIMCO PUBLISHES COVID-19 CREW CHANGE CLAUSE2020.06.25
Although travel restrictions are beginning to ease, there are still restrictions in many countries impacting on crew changes. The new clause...show more
- Ship arrest in Ukraine: new approaches2020.06.18
The concept of one shipowner – one vessel The concept of one shipowner – one vessel arose due to shipowners’ reasonable desire to secure...show more
- Collecting bunker debt - when urgency matters2020.04.07
Task The Client – large bunkering company making business in Black Sea Region – applied to Interlegal for debt recovery for bunker supply...show more
- Amendment of Ukrainian legislation relating to ballast waters inspection2019.09.17
Dear Interlegal clients, Please be informed that in the third quarter of the 2019 year significant changes of Ukrainian legisla...show more
- International Convention on Arrest of Ships Enters Into Force in Turkey2019.05.22
A presidential decree has been published in the official gazette on 03.05.2019 marking the date on which the 1999 Convention officially beca...show more
- LMAA arbitration notice clause2019.02.27
The LMAA has published a clause for use in arbitration agreements to facilitate effective notice by email (including for commencement of arb...show more
- We’ll go another way. Tailor-made Voyage Charter for large metal product exporter2017.01.11
Task First, the dispute arose between the Shipowner and the Charterer – large cargo owner, due to unclear freight payment clause in the F...show more
- General average shadows. How to refund costs: 13 years after the disaster.2018.01.11
Task In 2005, m/v “Norasia Taurus” owners declared on the general average due to container inflammation while the vessel wa...show more
- Costa Concordia: the last cruise2013.01.11
Task In January 2012, m/v Costa Concordia shipwrecked in the Mediterranean Sea off the coast of Giglio Island. At the moment of disas...show more
- Turkish Parliament has ratified the International Convention on the Arrest of Ships 19992017.09.12
Turkish Parliament has ratified the International Convention on the Arrest of Ships 1999 ("1999 Convention") and the International Conventio...show more