The UK Court of Appeal has turned down a bid by trader Glencore to overturn a ruling that it must indemnify pool operator Navig8 in a tanker dispute.
Glencore had appealed the Navig8 claim regarding letters of indemnity (LOIs) on the grounds it was time-barred by a clause in a voyage charterparty.
Lord Justice Peregrine Simon said the appeal hinged on whether the obligations and rights contained in two LOIs issued in 2016 by Glencore were subject to the three-month limitation provisions in the voyage charter.
