High Court begins hearing aviation insurance cases following sanctions on Russia

Aircraft leasing firms are suing insurers after billions of euros worth of airplanes were detained in Russia following its invasion of Ukraine

Following the imposition of EU sanctions on Russia, the leasing firms sought the return of the aircraft but they were not returned.

The High Court has begun hearing what is expected to be a months-long trial involving claims by aviation leasing firms over insurers' alleged refusal to provide indemnity after billions of euros worth of airplanes were detained in Russia following its invasion of Ukraine.

The world's second and third largest lessors, SMBC and Avolon, along with BOC Aviation, CDB Aviation, NAC Aviation, and Hermes are the six plaintiff groups bringing proceedings against dozens of insurers and reinsurers like Lloyds, Chubb, AIG and Fidelis.