OCBC cannot claim US$56 million from insurers for the capsized vessel it funded: Court of Appeal

21/03/2026 3 Views

OCBC cannot claim US million from insurers for the capsized vessel it funded: Court of Appeal

Court says bank had not proved rig was lost by peril of the seas as it did not offer a cause of seawater entering vessel by chance

[SINGAPORE] OCBC is unable to claim US$56 million from a group of insurers for a vessel that it offered mortgage after the Court of Appeal allowed the five insurers’ appeal on Thursday (Mar 19).

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OCBC cannot claim US$56 million from insurers for the capsized vessel it funded: Court of Appeal

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