Posted On: March 15, 2005, 3:46 am CST

Posted By: A ZIA

our owners having fixed their vessel out for a 2 years period charter, ran into some problem when the charterers sublet the vessel to another operator who having loaded the vessel with various combination cargoes and had prepaid biils of lading issued,went bankruptm, thereby leaving the head charterers exposed with the liabilities to complete the voyage and
a potential for non recovery of such sums due to them under their sublet.the head charterers requested the owners to allow them time to pay up the hires over a period of time,whereby the charterers would assume all the liabilities left by the sublet charterers bankruptcy..the owners refused this request and withdrew the vessel from the charterers service...
could the owners recover this under a charterer's liability insurance and how would this work...

your most urgent advice/comments would be highly appreciated