Further guidance on jurisdiction and foreign claims? Aspen Underwriting v Credit Europe Bank NV

Today and tomorrow, the Supreme Court will hear a case arising from the loss of the ship (The Atlantik Confidence) in 2013 in the Gulf of Aden. The UK-based hull underwriters had paid out under a settlement agreement but then sought recovery of the proceeds from the ship owner’s mortgagee, a bank registered in the Netherlands, arguing that the loss was misrepresented to them and actually resulted from a deliberate act by the owners. The settlement agreement contained an exclusive jurisdiction clause in favour of English courts.

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