NATIONAL OILWELL (UK) LTD. v. DAVY OFFSHORE LTD.

[1993] 2 Lloyd's Rep. 582

QUEEN’S BENCH DIVISION(COMMERCIAL COURT)

Before Mr. Justice Colman

Insurance (Builders All Risks) - Subrogation - Waiver of subrogation clause - Plaintiffs agreed to supply subsea wellhead completion system to defendants - Plaintiffs claimed amount of unpaid invoices - Defendants counter-claimed for defective parts and delayed delivery - Allegation that defendants’ claim brought by insurer - Whether plaintiffs co-assured under policy - Whether plaintiffs entitled to benefit of waiver of subrogation clause - Whether defendants precluded from pursuing counterclaim - Marine Insurance Act, 1906, s. 78(4).