On January 10, 2016 the decision of the Arbitration Court of Moscow, according to which Principal’s claim to the insurance company for the sum of more than 150 mln. rubles were satisfied, was entered into force.
The cause of the dispute was the failure by the insurer of its obligations under the contract of insurance of trade (commercial) loans, under which the insurer was obliged to indemnify the insured for losses caused by non-payment for goods supplied by the insurer to its counterparties on credit terms.
Disputes of this type of insurance are among the most complicated in insurance law sphere, as they are deals not only contractual conditions according to insurance contract, but linked to the legal relationship of the insurer and its counterparties under the supply agreement as well.
It should be noted that in this particular dispute the insurer used nearly all possible procedure ways to legitimize his non-payment under insurance contract. That included written statement of defense, counterclaim for recognition of an insurance contract and supply agreement invalid. However, court of first instance and appeal court agreed with insured’s arguments and his evidences, so the Principal’s claim was satisfied.
This case was argued by KIAP, Attorneys at Law, partners Dmitry Shnaydman and Konstantin Astafiev, assisted by senior associate Irina Suspitsyna.