Lloyd's Law Reports

Professor Robert Merkin KC; Dr Johanna Hjalmarsson

Document

PETROMEC INC PETRO-DEEP SOCIETA ARMAMENTO NAVI APPOGGIO SPA v PETROLEO BRASILEIRO SA

[2006] 1 Lloyd's Rep. 121

COURT OF APPEAL

Before Lord Justice Pill, Lord Justice Mance and Lord Justice Longmore

Insurance (marine) - Agreement between numerous parties to upgrade semi-submersible oil production platform - Platform lost following explosion and fire - Allocation of insurance proceeds amongst interested parties - Whether costs of upgrading platform included element for profit.

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