https://twitter.com/Erkperk/status/1780295791476605061
https://threadreaderapp.com/thread/1780308667071430699.html
Erik Anderson:
The "defense" of Nord Stream AG's insurance companies has been filed. LLoyds and Arch argue that the damage was inflicted by, or under order of, a GOVERNMENT , and therefore they don't need pay.
I have requested the documents from the court and I'm making them available here. The defense filing has a lot of references to the claim doc so I publish download links to both:
Paragraph 22.3 : "It's customary in the energy market for cover for war risks to be confined to floating assets (which can be moved away from hostilities) How would we know that hostilities were coming to the Baltic? Because Biden told us?
The insurance companies are very clear that the Nord Stream bombing was a "single event , namely the decision of a person(s) to plant and/or detonate explosive devices on the NS1 pipelines" If they have to pay, they don't want to pay separately for the two damaged NS1 pipes.
(Erik And.: In a way I find it sobering that the insurance companies are focusing on the government who ordered the attack. I hope that makes it more difficult for the guilty government and the German investigation to scapegoat and charge some lower level individuals.)
The last paragraph brings up sanctions. Even if the court decides in favor of Nord Stream, Lloyds and Arch open up for the possibility that new sanctions can prevent the payment.
https://twitter.com/Erkperk/status/1780295791476605061
https://threadreaderapp.com/thread/1780308667071430699.html
Erik Anderson:
The "defense" of Nord Stream AG's insurance companies has been filed. LLoyds and Arch argue that the damage was inflicted by, or under order of, a GOVERNMENT , and therefore they don't need pay.
I have requested the documents from the court and I'm making them available here. The defense filing has a lot of references to the claim doc so I publish download links to both:
Paragraph 22.3 : "It's customary in the energy market for cover for war risks to be confined to floating assets (which can be moved away from hostilities) How would we know that hostilities were coming to the Baltic? Because Biden told us?
The insurance companies are very clear that the Nord Stream bombing was a "single event , namely the decision of a person(s) to plant and/or detonate explosive devices on the NS1 pipelines" If they have to pay, they don't want to pay separately for the two damaged NS1 pipes.
(Erik And.: In a way I find it sobering that the insurance companies are focusing on the government who ordered the attack. I hope that makes it more difficult for the guilty government and the German investigation to scapegoat and charge some lower level individuals.)
The last paragraph brings up sanctions. Even if the court decides in favor of Nord Stream, Lloyds and Arch open up for the possibility that new sanctions can prevent the payment.
https://twitter.com/Erkperk/status/1780295791476605061
https://twitter.com/Erkperk/status/1780295794064494832
Erik Anderson:
The "defense" of Nord Stream AG's insurance companies has been filed. LLoyds and Arch argue that the damage was inflicted by, or under order of, a GOVERNMENT , and therefore they don't need pay.
I have requested the documents from the court and I'm making them available here. The defense filing has a lot of references to the claim doc so I publish download links to both: