Leasing giant Avolon opens case against Lloyd’s & 12 insurers over Russian aircraft

Aircraft leasing company Avolon has initiated court proceedings against  Lloyd's and twelve insurers in Irish court, presumably on the loss of aircraft following Russian nationalisation.

Defendants named included:  Lloyd's, Chubb Europe, HDI Global Specialty, Swiss Re, Axis Specialty, Generali IARD, SCOR Europe, AIG Europe, Great Lakes, SMA, Fidelis, Starr Europe and Abu Dhabi National Insurance.

The court filing is only a perfunctory preliminary document required ahead of direct legal action.

When reporting its first quarter results, Avolon had said that 10 of its owned aircraft had remained in Russia after it had terminated leasing deals on the 16 owned and/or managed aircraft leased to Russian entities.

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