Supreme Court clarifies types of expense to be taken into account in calculating a constructive total loss

Legal, P and I Clubs — By on June 12, 2019 at 5:10 PM

Supreme Court clarifies types of expense to be taken into account in calculating a constructive total loss

Sveriges Angfartygs Assurans Forening (The Swedish Club) and others (Appellants) v Connect Shipping Inc and another (Respondents) (the MV RENOS) [12.06.19]

The Supreme Court has today held that salvage and other costs incurred prior to tender of Notice of Abandonment (NOA) should be taken into account for the purpose of assessing whether a vessel is a constructive total loss (CTL), but Special Compensation Protection and Indemnity Clause (SCOPIC) expenses should not.

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