Piracy ransoms subject to general average, High Court rules
Ransoms paid to pirates are subject to general average contributions even where an owner has war risk, and kidnap and ransom cover in place, according to a court ruling
Herculito Maritime v Gunvor International is rare example of a successful appeal under s.69 of the Arbitration Act 1996 on a point of law, and will have important ramifications for the law on both war risk insurance and general average
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