UK: Significant legal decision on constituting a limitation fund by way of a P&I club Letter of Undertaking
Skuld
The Association is grateful to Rob Collins and Ed Mills-Webb of Clyde & Co for permission to republish their article. In an important decision for the P&I industry, on 6 March 2014 the Court of Appeal has ruled that a Limitation Fund can now be constituted by way of a Letter of Undertaking ("LOU") given b
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