PETROS M. NOMIKOS, LTD. v. ROBERTSON.

(1938) 61 Ll L Rep 105

COURT OF APPEAL.

Before Lord Justice Greer, Lord Justice Slesser and Lord Justice MacKinnon.

Marine insurance-Freight policy-Institute Time Clauses (Freight):- (5) In the event of the total loss, whether absolute or constructive of the steamer the amount underwritten by this policy shall be paid in full, whether the steamer be fully or only partly loaded or in ballast, chartered or unchartered. (6) In ascertaining whether the vessel is a constructive total loss the insured value in the policies on ship shall be taken as the repaired value.

Vessel chartered-Explosion and fire on board-Charter abandoned-Election by owners to repair although cost of repairs exceeded insured value- Claim for partial loss paid by hull underwriters-Claim by shipowners to recover amount underwritten by freight policy on ground of constructive total loss of steamer, based on Institute Time Clauses (Freight) No. 5-Meaning of "constructive total loss"-Necessity for abandonment-Marine Insurance Act, 1906, Sects. 60, 61, 63.