Acted for IMC Montan, an international consulting group in the geological, mining and mineral processing sector, in a dispute over recovery of debt and penalty from Nornickel, under a consultancy agreement for preparation of a feasibility study on integrated development of a mine. The dispute centred on the quality of the reports and models developed by IMC Montan under the agreement. We won the case so all of the debt and also the penalty were recovered from the opponent. The court also dismissed in full the Nornickel counter-claims against our client for late performance penalty under the agreement.
The BCLP team defended a transnational pharma company in a dispute with a major Russian insurer over recovery of insurance compensation. The claims were based on a commercial loan insurance agreement obligating the insurer to reimburse the insured’s losses arising from its counterparties delaying payments under supply contracts.
The defendant refused to pay out the insurance compensation, arguing termination of coverage after delay by the counterparty beyond the maximum period permitted under the insurance agreement. Yet the insurer renewed the policy even though it was aware of the delay.
BCLP lawyers presented a consistent position arguing the insurer’s bad faith and inconsistent conduct and that the agreement terms were to be interpreted in the insured’s favour.
This case might be of interest for interpreting insurance agreement terms relating to termination of coverage and for assessing insurers’ professional actions. The matter is of special significance for insurance of large-scale supplies of medicines.