Lloyd’s announced the appointment of Sir David Steel as the next Lloyd’s Open Form (LOF) appeal arbitrator to hear salvage cases arising under the Lloyd’s Form of Salvage Agreement.
He will succeed Mr. Justice Teare, who has held the position since 2009, in October.
Steel is the current Admiralty Judge, whose duties include the hearing of appeals to the Court from LOF arbitrations. He previously served as an LOF arbitrator from 1981 until his appointment as the Admiralty Judge in 1998.
Lloyd’s Controller of Agencies Mark Patterson commented: “I am delighted to welcome Sir David Steel who brings extensive experience and support to the LOF. I would also like to thank Mr. Justice Teare for his invaluable assistance at an important time for the LOF.”
Lloyd’s Open Form provides a regime to determine the amount of remuneration awarded to salvors for their services in saving property at sea and minimizing or preventing damage to the environment. Originating in the late 1800s, it is the most widely used international salvage agreement in the world today.
Lloyd’s acts as the Form’s custodian and Lloyd’s Agency department handles the day-to-day cases arising under the Form’s terms and conditions.
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