As Andrew Jones and Daniela Miklova report, the recent case of Ristorante Limited t/a Bar Massimo v Zurich Insurance plc [2021] EWHC 2538 is a useful insight into how the Court will interpret the questions and answers in insurers’ proposal forms in coverage disputes. It also shows how insurers can lose potential policy defences through the drafting of proposal form questions going wrong.
The Court of Appeal raises the bar for insolvent claimants on security for costs
In October 2016, the Chamber for Commercial Disputes at the Supreme Court of the Russian Federation considered the cassation appeal of Eurasian Trading Company LLC (hereinafter – the Trading Company) in Case № А57-16992/2015 against the court’s refusal to introduce monitoring procedures with respect to RBP JSC (hereinafter – the Debtor) and decision to dismiss the application by the Trading Company without consideration.
In early 2015, credit institutions gained the right to initiate the bankruptcy of their debtors according to a simplified procedure – i.e., without a court decision ordering the recovery of debt.
1. Adoption and entry into force of the Russian Federation Code of Administrative Procedure dated March 8, 2015, No. 21-FZ
On Friday, the Ohio Division of Financial Institutions closed Bramble Savings Bank, headquartered in Milford, Ohio, and appointed the FDIC as receiver for the bank. As receiver, the FDIC entered into a purchase and assumption agreement with Foundation Bank, headquartered in Cincinnati, Ohio, to assume all of the deposits of Bramble Savings Bank.
On Friday, the Office of Thrift Supervision closed Maritime Savings Bank, headquartered in West Allis, Wisconsin, and appointed the FDIC as receiver for the bank.
On Friday, the Georgia Department of Banking and Finance closed Bank of Ellijay, headquartered in Ellijay, Georgia, First Commerce Community Bank, headquartered in Douglasville, Georgia, and The Peoples Bank, headquartered in Winder, Georgia, and appointed the FDIC as receiver for each bank. The failed banks were not affiliated with one another.
On Friday, the New Jersey Department of Banking and Insurance closed ISN Bank, headquartered in Cherry Hill, New Jersey, and appointed the FDIC as receiver for the bank.
On Friday, Washington Mutual Inc. (WMI), the holding company that owned Washington Mutual Bank (WMB), filed a disclosure statement and amended reorganization plan with the U.S.