MS Amlin Marine NV v King Trader Ltd and Others [2024] EWHC 1813 (Comm) - King's Bench Division, Commercial Court (Mr Justice Foxton) - 16 July 2024

Marine insurance - Pay to be paid clause - Assured insolvent - Whether third-party claimants bound by clause - Inconsistency - Construction - Implied term - Third Parties (Rights Against Insurers) Act 2010

KT time-chartered the vessel Solomon Trader to BMC. The vessel grounded on 4 to 5 February 2019, leading to claims against BMC by KT and KPI. On 25 March 2021 BMC went into insolvent liquidation. On 14 March 2023 an LMAA arbitration tribunal found that BMC was liable in damages to KT and KPI in a sum exceeding US$47 million. On 24 April 2024 BMC was wound up. KT and KPI commenced proceedings against BMC's insurers under the Third Parties (Rights Against Insurers) Act 2010.