24 November 2016The Moscow Court of Arbitration refused to uphold a claim of six foreign insurance companies to recover US$4 million from Russian company - Capital Insurance, previously held in reserve as compensation to relatives of passengers on the Sukhoi SuperJet 100 that crashed in Indonesia on 9 May 2012.
“The court's decision to dismiss the claim is difficult to describe as unexpected since the dispute has reached the Supreme Court and which in turn had overturned judgments passed down by the lower courts ruling in favour of the plaintiff. However this does not negate the fact that the dispute is highly controversial given the inconsistencies that exist between the wording contained in the insurance contract and that of the contracts for reinsurance of damages”. Summarizing the situation, Mikhail said that he hoped these inconsistencies will be fully assessed as part of the court’s decision.
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