Rule B: flotsam and jetsam

Tom Leander - Monday 8 February 2010

THE twists and turns of Rule B — B for baffling — could have been written by a modern Charles Dickens working the narrow canyons south of Wall Street.

The element that made Rule B so delightful to claimants, lawyers and insurers was the ability to freeze electronic fund transfers until a case was decided. Since most shipping transacti...