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Bank of America National Trust and Savings Association -v- Taylor Stasima Maritima Co Ltd

10th May 1991

(1992) 1 Re LR 316; [1992] 1 Lloyd’s Rep. 484

Alistair Schaff and Stephen Kenny – It was proper for an underwriter subscribing to a policy of insurance to be sued as a representative of the other subscribers, even in the absence of a “leading underwriter” clause, or other cost-sharing arrangement.

Insurance (Marine) – Representative action – Underwriters declined to pay on insurance claim – No leading underwriter clause – Whether Court had power to appoint one defendant to represent others – Liability for costs of action.