AUSTRALIAN SUPERYACHTS | CASE STUDY
Expert Witness and Valuations
Independent marine expert evidence and vessel valuations for courts, insurers and lenders
Facts
| Service | Independent marine expert evidence and vessel valuations |
|---|---|
| Expert | Captain Richard Morris, Master Mariner (Unlimited), AMSA Accredited Surveyor No. 124757 |
| Instructed by | National and Sydney law firms, insurers, secured lenders, banks and finance companies |
| Courts and codes | NSW Supreme Court (Expert Witness Code of Conduct) and Federal Court of Australia (Expert Evidence Practice Note), including admiralty proceedings |
| Valuations | Superyachts, motor yachts and commercial vessels, for finance, importation, insurance and litigation |
The problems we solved
Value before and after a catastrophic engine failure
The problem: In a NSW Supreme Court claim against a repairer, the owner of a commercial vessel needed evidence of the vessel’s market value before the failure and after a competent overhaul.
What we did: Richard prepared an expert report and a supplementary report built on comparable vessels and a physical inspection, and conferred with counsel on how pre-purchase inspections and recent rebuilds affect second-hand value.
The result: Expert evidence delivered under the NSW Expert Witness Code of Conduct.
A vessel under arrest
The problem: A 53 m expedition cruise vessel had been arrested in Federal Court admiralty proceedings and ordered to be sold. The lender needed to know whether the estimated costs of keeping her under arrest were reasonable.
What we did: Within about 48 hours, Richard prepared a sworn expert affidavit setting out a supervised lay-up that would maintain the vessel and protect her value, and costed it.
The result: An alternative at about 55 percent less than the original estimate, in evidence for the hearing.
Quote
“This is very helpful and we will need to get this into evidence that we can present to the Court Thursday.”
