17/84

Whether NYPE form “materially amended” within meaning of Inter-Club Agreement

Damage to cargo carried under a NYPE time charter was caused by bad stowage. The owners settled the claim made under the bill of lading. The charterers did not dispute that the settlement was reasonable but only indemnified the owners with respect of 50% arguing that this was all they were liable for. The owners now claimed to recover the balance of 50%.