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Litigation Support : shipping |
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The quality of our service offering and commitment to shipping was recently recognised by Lloyd's Shipping Economist by our being awarded the Best Provider of Accountancy Services Related to Shipping Finance.
- A major investigation into a bankrupt estate with creditors of US$500 million. We recreated the accounting records of a major shipping pool and traced individual transactions through nearly two hundred bank accounts over a period of forty years. A significant aspect of this case was our development of a payment tracking database to enable the client’s lawyers to confirm payments to specific creditors.
- The assessment of salvage claims for special compensation arising under Lloyd’s Open Form. Acting on different occasions for salvor and insurer, we dealt with ten separate claims up to US$37 million in value, including one case that proceeded from arbitration to the House of Lords.
- A shipowner suffered a substantial loss in respect of the non-delivery of vessels by a shipyard. We were instructed to determine the loss by valuing the company at the time of the claim and calculating its value if the vessels had been delivered as originally contracted. The client accepted a substantial offer of settlement for its loss just prior to the case being heard by London Arbitrators.
- A number of expert assignments in which underwriters had alleged that owners had scuttled their vessels. Our role was to assess the owners’ financial position to form a view on motive.
- An expert assignment regarding a loss of profits claim following the collision of a ferry with another vessel. The assignment involved the determination of revenue lost by the ferry operator. Both parties agreed to be bound by our determination of the loss.
- A major investigation into a US$185 million claim for oil spill clean up costs on behalf of the IOPC and a major P&I Club. We reported on the reasonableness of the claims made by the salvors for environmental clean up costs.
Contact Julian Wilkinson on 020 7651 1140, or e-mail for further information.
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