Background
Fraser River Pile & Dredge Ltd. owned a derrick barge "Sceptre Squamish", that it chartered to Can-Dive Services Ltd. Can-Dive accidentally sank the barge while it was chartered. Fraser River collected on a $1.1 million insurance policy for the barge. The original policy between Fraser River and their insurer contained a subrogation clause which waived the insurer's right of subrogation against any third-parties. Fraser River and their insurer entered an agreement which waived the original subrogation waiver, intending to allow the insurance company and Fraser River to sue Can-Dive.
In their defence, Can-Dive claimed that the insurer already waived their subrogation rights and so could not unwaive them.
The question before the Supreme Court is whether Can-Dive could rely on the waiver of subrogation in the original insurance policy.
Read more about this topic: Fraser River Pile & Dredge Ltd. V. Can-Dive Services Ltd.
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