Marine - Engelhart CTP V Lloyds Syndicate 1221
Court holds that all risks cargo policy did not cover fraudulent
documents for a non-existent cargo
The claimant bought copper ingots and re-sold them the same day.
However, when some of the containers arrived for transhipment, it
was discovered that they contained only slag of nominal value. It
was assumed for the purposes of this case that no copper was ever
shipped and that the claimant had, in good faith, paid for and
taken up fraudulent bills of lading and other shipping documents.
The claimant sought an indemnity under its All Risks marine cargo
insurance policy and some of the insurers denied liability on the
basis that the loss did not fall within the scope of the policy
cover.
