我所和海事保险业务在经过八年艰苦的斗争后取得的重大胜利

The Singapore Court of Appeal delivered its decision in the case of the “TERAS LYZA” today, allowing our hull insurer clients’ appeal in this complex marine hull claim. The decision has been published as Argoglobal Underwriting Asia Pacific Pte Ltd v Oversea-Chinese Banking Corp Ltd [2026] SGCA 14.

The case had its origins in 2018, when the vessel capsized during a tow voyage and was subsequently scuttled off the Philippines. The insured mounted a claim exceeding US$70 million under the hull and machinery policy, asserting that the vessel was lost by perils of the seas and was a constructive total loss. The matter proceeded to a full trial before the High Court, which ruled against our clients. Our clients appealed, and the Court of Appeal ruled in their favour.

We are proud of the team Wai Yue Loh 劳玮裕, John Seow, 普拉卡什-奈尔, Glenn O, and 马丁-李 for their strong dedication to the case! From the casualty in 2018 to judgment in 2026, it was an eight-year fight involving complex expert evidence, intricate questions of marine insurance law, and a full appellate process. The result is a reflection of the dedication and hard work put in by the team throughout.