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London partner Barney Reynolds (Financial Institutions Advisory & Financial Regulatory) has co-written Shipowners' Limitation of Liability—a comprehensive industry guide published by Kluwer Law.
The book examines the highly unusual right of shipowners, arising under various international Conventions and national regimes, to limit their liability arising from any one incident, against all potential claimants, to an amount based on the vessel's value or tonnage. Consideration is given to various practical topics including forum-shopping and how the conflict of laws rules of various jurisdictions might be used by those involved in the incident to raise the most advantageous defence or select the most suitable tribunal to establish or challenge the right to limit. For each potentially applicable limitation regime, the book identifies the amount to which liability is limited and the tests that apply when a claimant wishes to object to a shipowner’s right to limit liability.