by Craig Jallal
Ince Gordon Dadds partner Carrie Radford and senior associate Lucy Espley comment on the extraordinary Brillante Virtuoso case
In 2011, the 1992-built Suezmax tanker Brillante Virtuoso was within Yemeni waters waiting for a security team. A small boat approached carrying seven armed persons. The master allowed them to board, apparently believing they were the security team. The ‘security team’ hijacked the ship and within hours set the vessel on fire. The ship was abandoned, the crew was rescued by a passing ship and Brillante Virtuoso was later sold for scrap.
The vessel’s owner, Suez Fortune Investments Limited, and mortgagee bank, Piraeus Bank AE, brought a claim on the vessel’s war risks policy for a constructive total loss, totalling US$77M, claiming that the loss of the vessel was caused by piracy or hijacking.
To continue reading, please click here.