Former DVB lessor files suit in latest Russian aircraft claim

Deucalion Aviation, the aviation asset and investment management business previously belonging to DVB Bank, has filed a suit against ten insurers and ten Lloyd's syndicates, presumably another in the chain of cases for aircrafts stranded in Russia.

KDAC Aviation Finance (Cayman) is bringing the suit. KDAC last posted financial statements for FY2021, noting just one lost aircraft in the subsequent events with a net book value at $11.6 million.

The list of ten insurers on the defence stand includes Chubb, HDI Global Specialty, Global Aerospace Underwriting Managers, Starr International, Fidelis, Convex Insurance, Swiss Re, AXIS Specialty, Great Lakes and Fidelis Bermuda.

Lloyd's syndicates also on the defence stand include Chaucer 1084, Tokio Marine Kiln 0510 and 1880, Faraday 0435, Apollo 1969, XLCatlin 2003, Talbot 1183, Liberty 4472, Endurance 1856 and Atrium 0609.

The aircraft had been leased to Yakutia airlines of Yakutsk, Sakha Republic, Russia which operates domestic passenger services in Russia and the Commonwealth of Independent States as well as international routes to Europe, Asia and North America.

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