Legal
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In addition, Lloyd's syndicates Atrium and Syndicate 1183 asked the judge to dismiss the case against them in its entirety. -
The carrier argued that, because the sum it was being sued for was significant – $95mn in the all-risk case and $240mn in the war risk case – it should be allowed to represent itself.
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Bowling chain Hollywood Bowl is also suing Liberty Mutual for Covid-19 BI losses.
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The pub group and bakery chain will dispute elements of judgements issued in October in UK Covid-related BI lawsuits.
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The action is being taken by a securitisation entity managed and serviced by Dubai Aerospace Enterprise.
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A steady stream of legal actions are being filed against insurers over billions of dollars’ worth of stranded aircraft.
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The lessor is looking to recoup $750mn from its war insurers or over $875mn from its all-risk insurers, in the event that its war claim fails.
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The amount Aircastle is looking for in the suit is, however, lower than the $350mn insurance claim that for equipment stranded in Russia.
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Some multi-national cedants are using US addresses to source cover from US carriers, risking issues in the event of claims, amid a desperation for growth on both sides of the Atlantic.
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Mondelez had filed a $100mn lawsuit against the insurer over payment denial.
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Court documents also revealed that 101 of AerCap’s 116 planes in Russia have been re-registered.
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Argo Group has been sued by investors, who claim the company has engaged in inadequate underwriting and misrepresentation of facts which resulted in a 60% drop in the specialty carrier’s common stock value this year.
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