STONE VICKERS LTD. v. APPLEDORE FERGUSON SHIPBUILDERS LTD.

[1991] 2 Lloyd's Rep. 288

QUEEN’S BENCH DIVISION(COMMERCIAL COURT)

Before Mr. Anthony Colman, Q.C. (Sitting as a Deputy Judge of the High Court)

Insurance (Marine) - Subrogation - Shipbuilding risks insured - Express term in insurance contract that underwriters should have no recourse against co-assured - Plaintiff sub-contractors supplied propeller - Propeller defective - Insurers settled defendant shipbuilders’ claim - Whether plaintiffs co-assured - Whether plaintiffs had interest in subject matter of insurance - Whether plaintiffs entitled to be protected against subrogated claim.