A $60m judgment against the Norwegian protection and indemnity club by Venezuela's supreme court has led to an unprecedented battle that has pitted partners in the international tanker pollution system in a fierce legal battle.
Gard won a ruling from Justice Hamblen earlier this year that froze up to $58m of the assets of the 1971 IOPC Fund.
But the same judge today found in favour of the IOPC Funds although the deep rift between the parties and the nature of the dispute means the issue may well go to appeal.
The
