KIAP litigators successfully finished the case to recover 32+ mln dollars worth of reinsurance payout in connection with 2012 crash of Sukhoi Superjet in Indonesia

28.03.2016
KIAP litigators successfully finished the case to recover 32+ mln dollars worth of reinsurance payout in connection with 2012 crash of Sukhoi Superjet in Indonesia
Фото wikipedia.org

The dispute arose in connection with the refusal by thirty foreign reinsurers, some of them members of Lloyd's, to pay out a reinsurance claim from the Russian insurance company Capital Insurance for the loss of the aircraft.

The total amount of reinsurance money sought originally was over 32 mln US dollars; some time into the litigation, however, a number of reinsurers paid up as required under their contracts, and the amount of the claim was nearly halved by the plaintiff.

Apart from issues of law, the trial was dragged out by complicated notification to the multitude of defendants in the case domiciled in various foreign jurisdictions (Great Britain, India, Nepal, Bermuda etc.), rejection of the jurisdiction of the Russian court by counsel for the defendants, as well as by the complexity of applicable law issues.

Finally, after nearly three years of arbitration, Arbitration Court of West-Siberian Region agreed with decisions of Arbitration court of Khanty-Mansi Autonomous district and 8th Arbitration Court of appeal, according to which Principal's claim had been granted in full.

Capital Insurance's case was argued by the Firm's partners Dmitry Shnaydman, Konstantin Astafiev and Ilya Ischuk, assisted by senior associate Georgy Karaoglanov.


Twitter Facebook Яндекс Livejournal

Insurance

The practice is recommended by the Russian legal directories Pravo-300 and "Kommersant". Among legal support of disputes, main directions of the practice include legal consulting services in respect of a more wide range of issues related to insurance and reinsurance, tariffs and policies, legal examination of internal procedures, scoring and insurance products in the interests of insurers, professional associations of insurers, as well as insured persons, companies and state institutions. The direction is headed by partner Dmitry Shnaydman recommended by the international rating Best Lawyers. Dmitry is a lawyer with 18 years’ experience in insurance business. During the last 8 years he headed the area of business of Rosgosstrakh, major Russian insurance company, dealing with legal support for the largest and most significant disputes on the whole territory of the Russian Federation for all types of insurance (the aggregate annual sum of claims for the considered cases amounting to more than RUR 2 billion). He has significant experience of provision of the effective support for major judicial disputes (with the claim sum amounting up to USD 30 million), related to insurance contracts in the sphere of power engineering, agricultural insurance, maritime hull insurance, professional liability, as well as experience of legal proceedings with participation of foreign reinsurers.


Back to the list