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Airplanes and Insurance Claims – Update 15 December 2022

15 December, 2022

Cross Departmental Team

 

  • Aviation Dispute Resolution Comprises of 
  • Aviation/Asset Finance, Insurance & Litigation Experts
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Legal Professionals

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Deep Industry Knowledge

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Solutions Focus Approach

Airplanes and Insurance Claims Update

Since date of publication, several lessors have commenced proceedings in Dublin and in several US states (including New York and Florida) against insurers and reinsurers in respect of aircraft seized in Russia.

CDB Aviation, another Dublin-based lessor and affiliate of China Development Bank became the latest Dublin-based lessor to commence High Court proceedings in Dublin. CDB Aviation’s proceedings were taken against 18 insurance companies, including Lloyds of London, Swiss Re, and Chubb European Group in respect of nine aircraft that were not recovered from Russia. CDB Aviation successfully recovered some of the 15 aircraft in Russia before the deadline on 28th March 2022, but have since filed a US$108 million loss for the aircraft that could not be recovered.

Since November, several Dublin-based lessors including SMBC Aviation Capital, JetAir 1 Limited and associated companies, and NAC Aviation 29 DAC have all commenced separate proceedings in the Commercial Division of the High Court against a number of insurers, including Lloyds Insurance Company, Fidelis Insurance Bermuda Limited, and Great Lakes Insurance SE, and AIG Europe SA amongst others.

Furthermore, Aviator Capital Management have commenced proceedings in Florida, following Carlyle Aviation Partners’ claim at the beginning of this month. Together, the two lessors are seeking an estimated US$850 million from over 30 insurers in respect of 30 aircraft collectively.

The Connecticut-based lessor Aircastle has also filed a complaint against several Lloyds syndicates. Aircastle’s claim relates to an estimated US$265 million in losses related to seized aircraft following the Russian invasion of Ukraine and subsequent sanctions of the aviation industry.

For the cases in the High Court in Dublin, these matters are back before the Court on Monday, 19th December where it is anticipated that directions will be given regarding the possibility of separate representation for insurers who have provided separate cover for all risk and war risk as well as time frames for the filings of Statement of Claims and Defences.

Read our article Airplanes and Insurance Claims (4 November 2022) 

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  • How can Flynn O’Driscoll assist?

    Flynn O’Driscoll are uniquely placed to deal with such matters with our recognised award-winning expertise within both our aviation and insurance law teams and are already engaged on a number of such matters with aircraft insurers from an Irish legal perspective.

  • Our Aviation Experience includes

  • • Aviation Detention and Repossession
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Please reach out to your usual Flynn O’Driscoll contact or any of the cross-departmental Aviation Disputes team listed below if we can be of assistance:

Key Contacts

Billy Brick

  • Senior Associate
  • – 
  • E: billybrick@fod.ie 
  • T: +353 1 642 4289
  •  
  • Aviation Law,
  • Employer Liability Defence,
  • Aviation Disputes

David Curran

  • Partner
  • – 
  • E: davidcurran@fod.ie
    T: +353 1 642 4265
    M: +353 87 646 0981
  •  
  • Dispute Resolution,
    Aviation Insurance Disputes

Eoin Cunneen

  • Partner
  • – 
  • E: eoincunneen@fod.ie
    T: +353 1 642 4287
    M: +353 85 280 2410
  •  
  • Dispute Resolution, 
  • Aviation Disputes, 
  • Insolvency

James Duggan

  • Managing Partner
  • – 
  • E: jamesduggan@fod.ie
    T: +353 1 642 4252
    M: +353 87 650 4255
  •  
  • Asset Finance, Aviation Law, 
  • Commercial Law, Insolvency, 
  • Corporate Restructuring

Stephanie Guidi

  • Solicitor
  • – 
  • E: stephanieguidi@fod.ie
    T: +353 1 693 1790
  •  
  •  
  • Commercial Law, 
  • Asset Finance, 
  • Aviation Law
  •  

Kieran Kelly

  • Partner
  • – 
  • E: kierankelly@fod.ie
    T: +353 1 693 1779
    M: +353 86 260 1943
  •  
  • Dispute Resolution,
  •  Aviation Disputes,
  • Insolvency

Claire McDermott

  • Partner
  • – 
  • E: clairemcdermott@fod.ie
    T: +353 1 642 4259
  •  
  •  
  • Aviation Law, 
  • Employer Liability Defence, 
  • Aviation Disputes
  •  

Orlagh Scollard

  • Pre-Trainee
  • – 
  • E: orlaghscollard@fod.ie
    T: +353 1 693 1791

  •  
  • Aviation & Asset Finance

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