Insurer ‘Ever Given’ filed appeal Egyptian Court

UK Club, an insurer of the ‘Ever Given’ cargo ship, said on Friday it had filed an appeal over the vessel’s detention by the Suez Canal Authority (SCA). The owner and the Suez Canal Authority are caught in a legal dispute ever since the ship had to be dislodged from the Suez Canal. The SCA has claimed a $916 M compensation.

“The appeal against the arrest was made on several grounds, including the validity of the arrest obtained in respect of the cargo and the lack of supporting evidence for the (Suez Canal Authority’s) very significant claim,” a spokesperson of UK Club stated. UK Club said last week the canal’s claim included $300 million for a “salvage bonus” and $300 million for “loss of reputation.” The hearing on the appeal will be held on May 4.