Legal Update: Establishing a Limitation Fund Recent developments in Singapore and the UAE

The increasing willingness by jurisdictions to accept P&I Clubs' LOUs to constitute limitation funds is a welcome trend for shipowners and P&I Clubs.

The practical advantages of using a P&I Club's LOU as opposed to making a cash payment into Court are that it is a much quicker and considerably less expensive way to establish a limitation fund, without having to tie up cash reserves in court.

Find out more on this topic by reading our Legal Update attached above.

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    01/11/2018

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Staff Author

UK P&I

Date01/11/2018

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