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The High Court has ruled that the remaining defendants, a group of insurers providing "all risks" coverage, are entitled to their legal costs after the plaintiffs, a consortium of commercial entities leasing aircraft, withdrew their claim against them. The plaintiffs had sought indemnity under their insurance policy for aircraft leased to Russian airlines and not returned following EU sanctions due to the Russian invasion of Ukraine. The plaintiffs settled with other defendants but discontinued their claim against the remaining "all risks" insurers on the 93rd day of trial. The court found no persuasive arguments to depart from the default position that the party discontinuing the claim should pay the costs of the successful party, in this case, the remaining insurers.
aircraft leasing, EU sanctions, Russian invasion of Ukraine, insurance policy, "all risks" coverage, war risk perils, indemnity claim, commercial court, legal proceedings, discontinuance of claim, legal costs, settlement, Legal Services and Regulation Act 2015, Rules of the Superior Courts (Costs), Legal Costs Adjudicator, party and party basis, adjudication.
Note: This is intended to be a fair and accurate report of a decision made public by a court of law. Any errors should be notified to the editor and will be dealt with accordingly.
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