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US court upholds Gourdomichalis corporate veil in Adamastos action

A US court has rejected an attempt to pierce the corporate veil to enforce a London arbitration award in favor of a third party, in a case involving the vessel at the centre of the current Munich Re conspiracy action against the Gourdomichalis brothers and P&I insurer the American Club

‘This result is an important statement that US courts will not hold shipowners responsible for liabilities incurred by entirely separate corporate entities’ — Seward & Kissel partner Bruce Paulsen

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