Reported 10 months ago
In Dublin, a significant court battle involving some of the world's largest aircraft lessors and insurers has begun over approximately 2.5 billion euros in insurance claims linked to jets stranded in Russia due to Western sanctions. Lessor companies like SMBC, Avolon, BOC Aviation, and others are pursuing their claims against insurers, who are disputing the payouts by arguing various points like the absence of physical loss of planes or whether leasing agreements were terminated voluntarily. The complex case, involving numerous legal professionals, is expected to last around seven months and is one of the largest in Ireland's legal history.
Source: YAHOO