The cruise ship Olympia Voyager was owned by Olympic World Cruises (“OWC”) and entered with Steamship Mutual Underwriting Association (Bermuda) Ltd (“the Club”) which provided P&I insurance to vessels owned by OWC including the Olympia Voyager. On 19 January 2004 the vessel was arrested by her mortgagee banks (“the Banks”) and was subsequently sold by court order. The Club intervened and asserted a maritime lien for unpaid insurance premiums. At the date of arrest, the Club had invoiced premiums totalling $61,186.15. However, OWC owed further premium amounts totalling $274,770.11 for pre-arrest insurance that had not yet been invoiced.