3 Apr 2008
ANBEST ELECTRONIC LTD v. CGU INTERNATIONAL INSURANCE PLC
- Citation
- ANBEST ELECTRONIC LTD v. CGU INTERNATIONAL INSURANCE PLC
- Court
- Court of First Instance
- Case number
- HCCL82/2000
The court held for the plaintiff: the sale was CIF, the insured retained an insurable interest, the container was wrongfully abstracted pursuant to a pre-arranged theft such that the loss is properly regarded as occurring while cover remained in force under ICC(A) (Clause 8 and Theft clause); Clause 16 was not breached by the plaintiff's conduct in the Sharjah proceedings and did not extinguish liability; plaintiff entitled to indemnity of US$329,712.80 and reimbursement of HK$450,000 for reasonable legal expenses plus costs and interest as ordered.