Confirmation of policy coverage and estoppel

Micoperi SrL v The Shipowners’ Mutual Protection and Indemnity Association [2011]

Commercial Court, 21 October 2011

The Claimant in this case (Micoperi) was a shipowner based in Italy. On 3 October 2005, one of its vessels was involved in an incident in the Black Sea, in consequence of which it found itself faced with claims from a third party, Toreador Turkey Ltd (Toreador) in the sum of €11.6m. Micoperi denied liability for the claim, and indeed asserted its own cross-claim against Toreador for unpaid invoices of €4.5m, for which it had contemplated arresting property belonging to Toreador, namely a consignment of steel pipes awaiting treatment at a yard in Sicily.

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Lawyers Anthony Menzies, James Crabtree, Susannah Wakefield