Nordisk lawyer Michael Brooks has penned a hard-hitting warning that letters of indemnity (LOIs) are dangerous and current protection and indemnity club wordings could be improved.
In the club’s annual report, he highlights a London High Court ruling, made in March, to illustrate the need for shipowners to tread carefully when asked to accept LOIs.
Brooks, an English solicitor and former Sinclair, Roche & Temperley partner, warns that LOIs are “downright dangerous”.
