YOUNG v. MERCHANTS' MARINE INSURANCE COMPANY, LTD.

(1932) 42 Ll L Rep 134

KING'S BENCH DIVISION.

Before Mr. Justice MacKinnon.

Insurance (marine)-Running down clause -Defendants' policy (covering steamship W against all risks) including running down clause - Reinsurance with plaintiff against total loss only - Total loss of W after collision with steamship M-Vessels found equally to blame-Payment by plaintiff to defendants on total loss basis-Effect of running down clause- Principle of cross-liabilities-Claim by plaintiff to recover proportion of amount deemed to have been received by defendants as due from the owners of the M