PHANTOM SHIPS
September 1st, 2002
BY MONICA DOBIEINSTANCES of Phantom ship fraud may decrease in the future because of a law dating back to 1906 that was recently invoked in a Hong Kong court for the first time.Section 44 of the Marine Insurance Act (MIA), a law replicated in many Commonwealth countries, was used to defeat the owner of missing palm oil cargo worth US$2.5 million aboard the ship the Pacifica that had gone missing in the high seas.According to the article, insurers are not liable if a shipping line has no intention from the outset of taking the cargo on its contracted ...
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