Chalos & Co Proudly Supports Thomas Miller (Americas) ‘Play for Pink’ Breast Cancer Fundraiser

Congratulations to Thomas Miller (Americas) & the UK P&I team on raising $250,000 at its 2019 annual charity golf outing, Play for Pink, in support of the Breast Cancer Research Foundation.  Chalos & Co is a proud contributor and supporter of the great work done by the Breast Cancer Research Foundation to advance the prevention and cure for breast cancer.

For more information and to contribute to the Breach Cancer Research Foundation please visit their website at https://www.bcrf.org/

To read a copy of the Tradewinds Article click here.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Chalos & Co, P.C. attended the VII International Conference “Practical Aspects of Maritime Shipping – Experience 2019” in Saint Petersburg, Russia

Viktoriya Ukhova and Melissa Russo of Chalos & Co, P.C. participated in the VII International Conference “Practical Aspects of Maritime Shipping – Experience 2019” in Saint Petersburg, Russia hosted by Remedy Law Firm on September 27, 2019. Melissa Russo of the Chalos & Co, New York office presented on the current landscape of United States sanctions.  The panel of the speakers was varied and included international attorneys and maritime specialists with expertise in various hot topics in the maritime industry.

Michelle Otero Valdés of Chalos & Co, P.C. – Miami appointed to the American Caribbean Maritime Foundation Board of Directors

Michelle Otero Valdés of Chalos & Co, P.C. – Miami, has been appointed to the American Caribbean Maritime Foundation (“ACMF”) Board of Directors.  ACMF is a New York-based organization focused on providing opportunity for Caribbean students by working with the Caribbean Maritime University to raise funds for scholarships, equipment, facilities, and infrastructure, and to support the development of the maritime community.  Ms. Otero Valdés is expected to expand the ACMF footprint to Florida where the ACMF has a growing set of important strategic partners.

To read a copy of the Press Release issued by ACMF click here.

For more information on the ACMF visit their website at https://www.acmfdn.org

For more information, please do not hesitate to contact us at  info@chaloslaw.com

Michelle Otero Valdés of Chalos & Co, P.C. – Miami to speak at the ABA International Ship Arrest Symposium on May 4, 2019.

Michelle Otero Valdés of Chalos & Co, P.C. – Miami, will be a speaker at the ABA International Ship Arrest Symposium on May 4, 2019. The conference will take place in New York City.  The topics to be discussed include the Federal Maritime Lien Act, international arrests, International Convention relating to the Arrest of Sea-Going Ships (Brussels 1952), and International Convention on Arrest of Ships, adopted in Geneva in 1999.

For more information, please do not hesitate to contact us at  info@chaloslaw.com.

 

 

Michael G. Chalos, Esq. to Join Chalos & Co, P.C. – International Law Firm

George M. Chalos and the Chalos & Co team are pleased to announce the addition of maritime law veteran, Michael G. Chalos, as Of Counsel to the firm.   Michael is a 1970 graduate of the State University of New York, Maritime College at Fort Schuyler, where he earned a Bachelor of Science degree in Marine Transportation and a Third Mate’s license in the United States Merchant Marine; following which he attended Fordham University School of Law.

Throughout his career, Michael has represented many clients involved in high profile litigation, including the successful defense of the Captain of the EXXON VALDEZ.  His clients include public and private corporations (both domestic and foreign). He regularly counsels ship owners, operators, transporters of oil & other hazardous products, pipeline operators and their insurers on developing early response systems and implementing effective environmental compliance programs aimed at ensuring awareness and compliance with International, U.S. Federal, State and local governmental regulations.

George M. Chalos, founder and principal of Chalos & Co said: “We are very excited for my father to join our team.  He brings the rare combination of energy, experience, loyal clients and a genuine love of the law. He gave me my first job as a lawyer and we are all very happy to have him working with our team.”

Michael G. Chalos said: “It’s a great pleasure and privilege to join Chalos & Co, P.C.  They consistently obtain excellent results for the firm’s clients and, most importantly, deliver those services with a strong abiding view of ‘value for money.’ I look forward to contributing to the firm’s continuing success.”

Michael can be reached at the following contact numbers and email address:

Tel: +1-516-714-4300
Direct: +1-516-584-2062
Mobile:+1-917-744-2649
Fax: +1-516-750-9051
Email: michael.chalos@chaloslaw.com

Texas Supreme Court Requires Underwriters to Pay Legal Fees Under Joint Venture Provision

On January 25, 2019, the Texas Supreme Court issued an opinion holding that a Joint Venture Provision in Anadarko Petroleum Corporation and Anadarko E&P Company, L.P.’s (“Anadarko”) insurance policy did not limit the Underwriters’ liability for Ankarko’s defense expenses.

The case arose from the April 20, 2010 blowout and explosion from the Deepwater Horizon drilling rig which resulted in eleven casualties and millions of gallons of oil leaking into the Gulf of Mexico.  Anadarko entered into a Joint Venture Agreement (the “Agreement”) with various BP entities and MOEX Offshore 2007 LLC where Anadarko held a twenty-five percent (“25%”) ownership interest in the Macondo Well (i.e. – the Deepwater Horizon drilling rig) located in the Gulf of Mexico.  Prior to the incident, Anadarko purchased an insurance policy, the “energy package,” through Lloyd’s London market which covered liability up to $150 million per occurrence.  The policy did not require the Underwriters to defend Anadarko against liability claims, but required the Underwriters to indemnify (reimburse) Anadarko of its “Ultimate Net Loss” which was defined under the policy as “the amount [Anadarko] is obligated to pay, by judgment or settlement, as damages resulting from an ‘Occurrence’ covered by [the] policy, including the service of suit, institution of arbitration proceedings and all ‘Defence Expenses’ in respect of such ‘Occurrence.’”  Multiple cases against BP entities, Anadarko, and MOEX were instituted as a result of the incident, which were later consolidated, and included damages for bodily injury, wrongful death, and property damage.  BP and Anadarko reached an agreement were Anadarko agreed to transfer its 25% ownership interest to BP and pay BP $4 billion dollars. In return, BP agreed to release its claims against Anadarko and indemnify Anadarko for liabilities arising out of the incident.

The Underwriters paid Anadarko $37.5 million based on Anadarko’s 25% ownership interest under the Agreement for liabilities arising out of the incident.  Anadarko filed suit against the Underwriters and alleged that the Underwriters should also pay for Anadarko’s defense expenses. Anadarko sought payment of the remainder of the policy limit, totaling $112.5 million, for defending against various third-party and government claims.  The trial court found in favor of Anadarko.  On appeal to the Court of Appeals for the Ninth District of Texas, the Court of Appeals reversed the judgment and found in favor of the Underwriters.  At issue before the Texas Supreme Court was the first clause of the Joint Venture Provision in the policy which imposes a coverage limit based on Anadarko’s ownership interests and provides that:

[A]s regards any liability of [Anadarko] which is insured under this Section III and which arises in any manner whatsoever out of the operation or existence of any joint venture . . . in which [Anadarko] has an interest, the liability of Underwriters under this Section III shall be limited to the product of (a) the percentage of interest of [Anadarko] in said Joint Venture and (b) the total limit afforded [Anadarko] under this Section III.

The Texas Supreme Court found that “any liability” in the clause does not refer to defense expenses.  Both liabilities and defense expenses were insured under the policy; however, liabilities and defense expenses were unambiguously distinguished in the policy.  Specifically, the 25% Joint Venture Provision applied only to liabilities and not defense expenses.  The Court rejected the Underwriters’ argument that the Joint Venture Provision restricts the coverage of defense expenses to a 25% cap and found in favor of Anadarko.  The Court held that even though there was only a single Ultimate Net Loss amount for excess liability set at $150 million, only joint venture liabilities had a 25% cap.  Accordingly, the defense expenses could be recovered by Anadarko up to the remaining $112.5 million (of the $150 million total) under the policy.  The judgment was rendered and the case was remanded to the trial court for further proceedings consistent with the opinion by the Texas Supreme Court.

To read the full opinion, please click here.

For more information about the Texas Supreme Court decision, please do not hesitate to contact us at info@chaloslaw.com.

Michelle Otero Valdés, Esq. to Present at the Art Law & Litigation Conference

Chalos & Co, P.C. is pleased to announce that Michelle Otero Valdés will be a speaker at the Federal Bar Association’s Art Law Conference on Thursday, February 7, 2019 taking place at the National Arts Club in New York City.  Ms. Otero Valdés presentation is titled: “Salty Impressionism: Admiralty Jurisdiction and Art” and will discuss important considerations of when “salt meets art,” including having fine art aboard vessels, insurance and security, where and how to place the art onboard, the paperwork issues associated with art onboard, the intersection between admiralty jurisdiction and art on a vessel in U.S. waters, and taxation issues unique to appurtenances aboard vessels.

To register for the conference, please visit the Federal Bar Association website here.

For more information about insuring or placing art (or similarly high value appurtenances) aboard vessels, please do not hesitate to contact us at  info@chaloslaw.com.

George M Chalos presented at the World Shipping Law Forum in Athens, Greece

George M Chalos attended and presented at the World Shipping Law Forum on Friday, 25th January 2019 in N.J.V. Athens Plaza, in Athens Greece.   Over 100 leading lawyers and industry executives addressed various emerging international and domestic legal issues, including blockchain, smart contracts, traditional ship finance, private equity and environment law, with an emphasis civil, administrative and criminal enforcement actions.