QBE has fended off a Spanish insurer’s bid to drag it into a Madrid court over an alleged $11 million tangle between a luxury yacht and an undersea power cable.
| Insurance giant QBE has won a courtroom tussle with Spanish insurer Generali over a luxury Mediterranean super yacht that allegedly caused more than $11 million damage to an undersea cable.
Fortuitously, however, the Angara’s owners had taken out a protection and indemnity policy with QBE just six weeks before. This is a standard policy for shipowners, protecting them against liability claims arising from collisions, property damage, environmental damage and, yes, pollution.The undersea cable owner, Red Electrica de Espana, was insured by Generali and a co-insurer, and got a €7.7 million payout.
QBE’s response was to launch a legal action of its own: an anti-suit injunction, ASI, which are generally used to stop litigants from cherry-picking the jurisdiction in which they want to fight.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
In Perrottet and V’Landys’ stadium stoush, two men are appealing to two very different audiences | Andy MarksAs an election looms, the NSW premier is trying to steer a 12-year-old government away from mistakes its federal counterparts made. There may not be room for a stadium push
Read more »
Training mishap rocks injury-plagued WallabiesWhen it rains it pours for the luckless Wallabies. 😥 9WWOS
Read more »
Japan tells China to stop its military drills around TaiwanJapanese Prime Minister Fumio Kishida has asked China to immediately stop its military exercises around Taiwan after five missiles flew over the island and landed in the ocean in Japan’s economic zone | ErykBagshaw
Read more »
Master weaver from Arnhem Land wins Australia's most prestigious Indigenous art prizeA sweeping, large-scale woven sail, once used on fishing boats between Arnhem Land and Indonesia prior to colonisation, has won first prize in the National Aboriginal and Torres Strait Islander Art Awards.
Read more »
SpaceX capsule confirmed as source of space debris that crashed on farm in AustraliaAstrophysicist expects people will find more debris in the area ‘over the coming weeks to months to even years’
Read more »
'Absolutely shocking' remote highway even more dangerous, say localsRemote Arnhem Land residents worry iron ore trucks are making the Roper Highway increasingly more dangerous, and causing dust pollution.
Read more »