FR EA

Extract to table

Pull the structured facts out of a document: parties, dates, amounts, obligations.

Extract to table / peloros-indemnification-rights-memo.docx
peloros-indemnification-rights-memo.docx · 1044-00005

Parties

HARKNESS LLP
Logistics SA
The SA
Only SA
Nereus Marine Procurement GmbH

Dates

December 12, 2022
February 1, 2019
January 15, 2019
March 22, 2019
June 10, 2020
February 28, 2021
April 4, 2022
August 1, 2022
November 15, 2022
August 12, 2022

Amounts

€38,400,000
€3,200,000
€25,200,000
€1,400,000
€28,800,000
€3,600,000
€5,600,000
€98,000,000
€67,200,000
€1,478,400

Obligations

However, the indemnification obligation is subject to two express conditions precedent, both of which must be satisfied before the obligation is triggered: (i) TSL must have provided Peloros with "accurate and complete information regarding the goods to be imported"; and (ii) The error must be "attributable to the Broker's professional judgment rather than the Client's instructions
We recommend that V&T (Alexandros Vournas) confirm the current state of Greek case law regarding the private right of action available to an importer against a customs broker under Presidential Decree 67/2000, including any procedural requirements or conditions that must be satisfied
Both must be carefully analyzed to ensure that TSL's claims are preserved
The key questions that TSL needs answered regarding Peloros's insurance coverage include: (a) Coverage scope: Does the policy cover tariff classification errors, or is it limited to other types of professional errors? Most professional indemnity policies for customs brokers cover classification errors, but the specific policy language must be reviewed
This commercial consideration must be weighed against TSL's financial exposure (€8
As discussed, this interpretation is inconsistent with the general Greek-law approach to limitation periods for professional service claims, but it represents a litigation risk that must be managed