MARC RICH & CO. A.G. (now GLENCORE INTERNATIONAL A.G.) AND ANOTHER v. PORTMAN AND OTHERS

[1997] 1 Lloyd's Rep. 225

COURT OF APPEAL

Before Lord Justice Leggatt, Lord Justice Hutchison and Lord Justice Waller

Insurance (Marine) - Charterers’ liability - Demurrage cover - Non-disclosure - Insured obtained demurrage endorsements for voyages from Kharg Island and Constantza - Whether such cover only applied to risks of delay in loading and unloading - Allegations of non-disclosure of loss experience, adverse port characteristics and irrecoverability from third parties - Whether disclosure obligation waived - Whether terms of charter not “Asba 2 or similar” - Whether underwriters entitled to avoid endorsements.