FRANKE V CIC GENERAL INSURANCE LTD (THE CORAL)

(1994) 3 Re LR 245

Australia New South Wales Court of Appeal

Before Gleeson CJ, Kirby P, Sheller JA

Insurance - Marine - Unvalued or open policy - Loss of vessel under tow - Proper approach to valuation - Market value of sale for scrap in India - Less proportion of joint towing contract to get there - held: Proper valuation.

Insurance - Marine - Loss of vessel under tow - Whether towing charges constitute a “disbursement to make the ship fit for the voyage or adventure” - held: (by maj) It is.