HFW Offshore Bulletin

Associations, Energy, Environment, Legal — By on March 26, 2015 at 2:05 PM

H F W banner for news...

OFFSHORE

BULLETIN

March 2015

Welcome to the March 2015 edition of our Offshore Bulletin.

The tragic incident on board the CIDADE DE SAO MATEUSoff Brazil and the fire on the PETROJARL KNARR are reminders to the industry that there are continuing uncertainties in relation to the legal and regulatory issues concerning offshore units. Fortunately, the incidents are not on the same scale asDEEPWATER HORIZON, in which the Texas Supreme Court has recently delivered its long-awaited ruling on whether BP was entitled to coverage of US$750 million under Transocean’s insurance policies as an additional insured (see our June 2013 andJune 2014 Bulletins). With the assistance of David Sharpe of Lugenbuhl, Wheaton, Peck, Rankin & Hubbard, we look at the Court’s reasoning in reaching the conclusion that BP was not so entitled.

We also discuss the English Court of Appeal’s recent decision in the OCEAN VICTORY, which confirms that where parties have taken out joint insurance, it is likely that their insurers will be precluded from exercising rights of subrogation in the event of a breach resulting in an insured loss.

In the run-up to the recently postponed Nigerian elections, analysts have observed that pirate activity typically spikes before national elections, and conjecture that this may be due to some local politicians funding their election campaigns with the proceeds of piracy. In light of this speculation, we examine recent pirate activity in the Gulf of Guinea and discuss the potential implications.

With the assistance of leading barrister Simon Rainey QC, we look at a recent English Commercial Court decision which confirms therestricted scope of risk allocation provisions in rig hire contracts, highlighting that a party will not (in the absence of an express term to the contrary) be able to benefit from its own breach of contract. We also consider another recent decision of the Commercial Court which discusses unreasonable withholding of consent and the meaning of “operating expenditure”.

If you require any further information or assistance on any of the issues raised in this edition, please do not hesitate to contact any of the contributors or your usual contact at HFW.

Shipping

Our shipping lawyers provide a comprehensive service to the global maritime business community. We have over 200 lawyers and 19 Master Mariners worldwide, specialising in maritime law, reflecting our long involvement in this field. Our maritime lawyers have a sound understanding of how the market works across dry shipping, admiralty and crisis management, and transactional work.
» Read more

Dispute Resolution

Our principal strength is our experience and expertise in international litigation, arbitration and alternative forms of dispute resolution. We have specialist dispute resolution teams in all of our offices, regularly handling high-value, complex, multi-party, multi-jurisdictional disputes. Our expertise spans a wide range of sectors and industries, from banking and finance, through to insurance and commodities.
» Read more

Offshore Technology Conference 2015

Houston
4–7 May 2015

CWC Oil & Gas EPC Conference Dubai

Dubai
19–21 May 2015

ACI – Offshore Support Vessels Summit

Aberdeen
17–18 June 2015

For more information about our events, please click here or contactevents@hfw.com

 

© 2015 Holman Fenwick Willan LLP. All rights reserved

Whilst every care has been taken to ensure the accuracy of this information at the time of publication, the information is intended as guidance only. It should not be considered as legal advice.

Holman Fenwick Willan LLP is the Data Controller for any data that it holds about you. To correct your personal details or change your mailing preferences please use the links provided or contact Craig Martin on +44 (0)20 7264 8109 or atcraig.martin@hfw.com.

Please consider your environmental responsibility before printing this email.

Tags: ,

Leave a Reply

IMPORTANT! To be able to proceed, you need to solve the following simple math (so we know that you are a human) :-)

What is 6 + 8 ?
Please leave these two fields as-is:

Trackbacks

Leave a Trackback