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United Kingdom and Ireland

Carlyle and UMB widen England and Wales High Court claim to 24 additional insurers and reinsurers for US$44m A330 stranded in Russia, alternatively under Russian law

Published on: 07 March 2024

Published by a Law360 reporter
Legal News
Article summary

Carlyle Aviation Management Ltd and the lessor Sasof III (A3) Aviation Ireland DAC indicated, in an amended claim form dated 22 February 2024 that has only recently been made public, that a further two dozen insurers are also accountable for the funds in dispute. UMB Bank NA, the lender that financed the aircraft’s purchase and operation, is likewise a claimant in the case. The claimants first brought proceedings in February 2023 against Convex Insurance UK Ltd and Liberty Corporate Capital Ltd, seeking to recover US$44m linked to a 2006 Airbus A330 leased to the Russian airline I-Fly. They have since expanded the claim to encompass the two dozen additional reinsurers, covering various syndicates and firms, including Arch Insurance (UK) Ltd...

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