Release of a sanctioned vessel from arrest in Hong Kong

Advising the designated insurer, a largest Russian sea cargo carrier, on settling claims filed by foreign cargo owners due to damage of the cargo (motor vehicles). During the sea transportation of cargo on board a vessel owned by the client, the cargo was damaged as a result of extreme weather. Cargo owners filed a maritime claim, and the vessel was arrested in a foreign port.

As a result of negotiations with cargo owners, the claimed amount was reduced by more than 12 times, an agreement to settle the claim was signed, the sea vessel was soon released from arrest, thus enabling the shipowner to avoid significant costs of its maintenance and loss of hire. Thanks to KIAP's support of the loss settlement proceedings and coordination with the insurer, the client's expenses related to compensation for damage incurred by cargo owners and its legal expenses were reimbursed as soon as practicable.

The case was managed by Maria Krasnova, Alexander Kartashov, Anastasiya Ryabova.