Sea damage - Steel cargo
27.12.2017 |Articles
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An trading company commenced proceedings against a Guangzhou shipping company before a Rotterdam Court and Guangzhou Maritime Court respectively for wet damage to a cargo carried by MV “XX” owned by the Guangzhou shipping company in January 2009. The total claims amounted to RMB11,760,172.34 plus interest. Having well noted the influence of the 2008-2009 global economic crises on steel prices in European markets as well as the time limitation of legal action during handling of the case, our lawyers put in vigorous defenses, whereby after the first instance of court hearing, the plaintiff took the initiative for a reconciliation of the case with us. For settlement of the two cases in Guangzhou Maritime Court and in Netherlands as well once in the most time and cost saving way, our lawyers finally reached a settlement agreement with the opponent for our client, with a settlement amount of only 23% of the plaintiff’s claim amount as the full and final settlement of the cases. |