A New York judge has thrown out a bid by bankrupt SH Tankers to bring the US charterer back to the arbitration table. With no further backing from its insurer, the decision effectively ends the South Korean owner’s bid to force Koch to take financial responsibility for the ransom plus related damages.
However, the biggest loser is not the shipowner but its war-risk insurer, Groupement d’Assurance de Risques Exceptionnels (Garex).
The
