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United Kingdom and Ireland

Carlyle, Sasof and UMB reach confidential partial settlement with reinsurers over US$44m A330 stranded in Russia; High Court (England and Wales) proceedings continue against Convex, Liberty.

Published on: 09 January 2026

Published by a Law360 reporter
Legal News
Article summary

Sasof III (A3) Aviation Ireland DAC, together with aircraft leasing manager Carlyle Aviation Management Ltd and UMB Bank NA, has struck a confidential settlement with insurers, as recorded in a High Court order dated 19 December 2025 that has only recently been disclosed. Settling defendants include German reinsurer Munich Rückversicherungs-Gesellschaft and Axis Specialty Europe SE’s Brussels and Belgian branch. In an amended claim filed in February 2024, Carlyle, Sasof and UMB pursued 24 reinsurers to recover about US$44m tied to a 2006 Airbus A330 leased to Russian carrier I-Fly. Insurers that did not participate in the settlement include Convex Insurance UK Ltd and Liberty Corporate Capital Ltd, alongside various syndicates and entities such as Arch Insurance (UK) Ltd and Swiss Re International SE.

The claim states...

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