Rosgosstrakh Ltd v Yapi Kredi Finansal Kiralama AO & Anor [2017]

Commercial Court
Written By Louise Glover

Rosgosstrakh Ltd v Yapi Kredi Finansal Kiralama AO & Anor [2017] EWHC 3377 (Comm) - 20 December 2017

“A P&I insurer who had paid out under the policy following the sinking in 2010 of the insured vessel, later sought to avoid the policy and reclaim the payment. After the payment the insurer had changed name and identity by restructuring but the …

“A P&I insurer who had paid out under the policy following the sinking in 2010 of the insured vessel, later sought to avoid the policy and reclaim the payment. After the payment the insurer had changed name and identity by restructuring but the proceedings were issued (just before the 6 year limit) in the old name. The Court dismissed the defendants' argument that the mistake was legal (and inexcusable) rather than factual and despite the time bar passing and criticism of the solicitor for not investigating the name change, the Court allowed the substitution of the correct party.”

Louise Glover
E. G. Arghyrakis & Co.
03rd January 2018

Louise Glover
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