High Court begins hearing mammoth case over indemnity for aircraft worth $2.5bn stranded in Russia

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World’s second and third largest lessors, SMBC and Avolon, along with BOC Aviation, CDB Aviation, NAC Aviation, and Hermes are the six plaintiff groups

The High Court has begun hearing what is expected to be a months-long trial involving claims by aviation leasing firms over insurers’ alleged refusal to provide indemnity after billions of euros worth of aeroplanes were detained in Russia following its invasion of Ukraine.

Following the imposition of EU sanctions on Russia, the leasing firms sought the return of the aircraft but they were not returned.Sinéad Hussey: ‘We treat miscarriages as a blip or something that’s easily forgotten’‘You’re not Irish. You’re not one of us’: Northern students on a year in the South Alternatively, it is claimed that the leasing agreements were voluntarily ended or that Western sanctions prevent insurers from providing cover.It is scheduled to last a number of months and special facilities have been provided in the Phoenix House Courtroom to accommodate the large number of lawyers, including remote access via the Trialview online facility.

Apart from a very limited number of returns, the planes have been retained for more than two years, he said.

 

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