Energy

Acting for EAR insurers in a multi-jurisdictional dispute with their insured in relation to an advanced loss of profits claim arising from the delayed start up of a petrochemical plant in the Caribbean.
   

The petrochemical plant concerned is one of the largest in the
world. During construction there were a number of failures to
critical path equipment which led to a significant delay in the commencement of commercial operations at the plant.
The material damage claim has been settled. However, the ALOP
and ICOW claims arising from the delay remain in issue.
The plant is of such importance that the delayed start up has
had an impact on the worldwide price of the product concerned.

 

The dispute has been the subject of competing proceedings
in two jurisdictions. Following forum challenges, our client insurers and the insured have agreed to an ad hoc arbitration before an international panel.

 

Terms & Privacy Policy  |  Disclaimer