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The Indo Daily: Rugby stars, Leaving Cert grinds, lewd jokes and a High Court case

The Indo Daily: Rugby stars, Leaving Cert grinds, lewd jokes and a High Court case

The private grinds industry in Ireland is booming, and is estimated to be worth between €50-€60m.
Investors, including well-known names like Brian O'Driscoll and Caelan Doris, have been keen to get in on the action, as the pair did when they helped fund hybrid learning platform Grinds 360 last year. But the competition in the grinds world can be just as intense as it is on the rugby pitch, and sometimes notably bitter.
Take the case of respected maths teacher Rob Browne, whose high-profile transfer from the Dublin Academy of Education to Grinds 360 led to a contentious dispute that landed in the High Court where, among other things, a lewd joke made on TikTok was under scrutiny.
On this episode of The Indo Daily, host Kevin Doyle is joined by Sunday Independent journalist Mark Tighe, to discuss this unusual legal battle.

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AerCap can recover over $1 billion, UK court rules in case over jets 'lost' in Russia
AerCap can recover over $1 billion, UK court rules in case over jets 'lost' in Russia

RTÉ News​

time3 hours ago

  • RTÉ News​

AerCap can recover over $1 billion, UK court rules in case over jets 'lost' in Russia

The world's largest aircraft lessor AerCap can recover over $1 billion in relation to jets stuck in Russia since the invasion of Ukraine, London's High Court ruled today, though that is less than the roughly $2 billion it sought. The court ruled broadly in favour of leasing companies in a multi-billion-dollar legal dispute with insurers, following a mammoth trial of one of the biggest insurance disputes ever heard in London which concluded in February. The lawsuit had focused on almost 150 jets and some engines, previously with a total value of up to $4.7 billion, though settlements - including on the first day of the trial in October - have whittled the numbers down. Judge Christopher Butcher said in a summary of his ruling that the aircraft were lost and "that loss occurred on 10 March 2022, when a piece of Russian legislation banned the export of aircraft and aircraft equipment from Russia". That meant the lessors could recover from their "war risks insurers", rather than under a broader all risks clause, as the cause of the loss was "an act or order of the Russian government", Butcher said. The judge also ruled that insurers were not prevented by EU or US sanctions from indemnifying the claimants for the loss of aircraft which had been leased to Russian airlines. AerCap's law firm Herbert Smith Freehills Kramer said the judgment secured $1.035 billion for AerCap, "in addition to substantial recoveries achieved in prior settlements". The $1.035 billion sum is, however, less than AerCap's claimed losses of over $2 billion had it been able to recover under its all risks policy. Butcher said in his ruling that Dublin-based AerCap had received just over $1.3 billion from six settlements between August and December 2023 with lessees and a Russian insurance company. AerCap, Dubai Aerospace Enterprise (DAE), Merx Aviation, KDAC Aviation Finance, Falcon and Genesis had led the claims against a string of insurers, including AIG, Lloyd's, Chubb and Swiss Re. KDAC settled all its claims during the trial, Butcher said in his ruling, while AerCap, DAE and other lessors have periodically disclosed partial settlements.

Dublin-based aircraft lessor AerCap secures $1bn in UK judgment
Dublin-based aircraft lessor AerCap secures $1bn in UK judgment

Irish Independent

time6 hours ago

  • Irish Independent

Dublin-based aircraft lessor AerCap secures $1bn in UK judgment

Lessor sued insurers after Russia seized jets following Ukraine invasion Dublin-headquartered aircraft lessor AerCap has secured an award of more than $1bn (€874m) in London's High Court, after suing insurers when its jets were seized in Russia following the country's invasion of Ukraine. The $1.03bn award for AerCap, whose chief executive is Gus Kelly, is on top of previous recoveries it has secured in past settlements related to jets and engines stranded in Russia. AerCap, the world's largest aircraft lessor, had 116 jets and 23 engines seized in Russia following its invasion of Ukraine. The Irish company had initiated legal action in London against a slew of insurance and reinsurance firms including Lloyds, Liberty Mutual, Chubb, Fidelis and Swiss Re. In 2023, it secured $572m in a full settlement of claims under insurance policies of Russian carriers Ural Airlines and S7 in respect of a total of 47 aircraft and five spare engines. These were owned by AerCap entities and were leased to the airlines at the time of the Russian invasion of Ukraine in 2022. The action just concluded in the High Court in London followed a 12-week trial that included five other aircraft lessors, with AerCap acting as the lead claimant. AerCap was represented by international law firm Herbert Smith Freehills Kramer in the action. The other claimants included Dubai Aerospace, KKR's KDAC Aviation, Merx Aviation and a leasing unit ultimately owned by US-based MassMutual. During the course of the trial KDAC settled with its insurers, and its action was dismissed. There was a dispute between all-risk insurers and war-risk insurers The insurers had previously unsuccessfully challenged the jurisdiction of the UK court to hear the action, arguing it should be staged in Moscow. The judgment released on Wednesday relates to a total of 147 aircraft, 16 standalone engines and one other piece of equipment. The insured value of these amounted to over $4.5bn. A key issue concerned whether the lessors' aircraft had been lost to the claimants, and if so when and what caused such a loss. In particular, there was a dispute between all-risk insurers and war-risk insurers as to whether the cause of any loss of the aircraft was a commercial decision of the Russian airlines leasing the aircraft. In that case the all-risk insurers would be liable to the claimants, or an act or order of the Russian government, in which case the war-risks insurers would be so liable. Mr Justice Butcher found in favour of AerCap and the other lessors, ruling that their war-risk insurance policies were triggered following the seizure of their aircraft. He concluded that the aircraft had been lost, and that the loss occurred on March 19, 2022, when a piece of Russian legislation banned the export of aircraft and aircraft equipment from their country. There was also an issue as to whether EU or US sanctions prevented the insurers from indemnifying the claimants for the loss of aircraft which had been leased to Russian airlines. The judgment concluded that insurers were not so prevented by sanctions.

Irish aircraft leasing firm AerCap wins court insurance dispute over jets taken by Russia
Irish aircraft leasing firm AerCap wins court insurance dispute over jets taken by Russia

Irish Examiner

time10 hours ago

  • Irish Examiner

Irish aircraft leasing firm AerCap wins court insurance dispute over jets taken by Russia

London's High Court on Wednesday ruled in favour of Irish company AerCap, the world's biggest aircraft leasing firm, and several other aircraft lessors in a multi-billion-euro legal dispute over jets retained in Russia since the 2022 invasion of Ukraine. AerCap and several other firms had sued insurers including AIG, Lloyd's, Chubb, and Swiss Re in one of the biggest insurance disputes ever heard in London. The London lawsuit had focused on almost 150 jets and some engines, previously with a total value of up to $4.7bn (€4.1bn), though settlements – including on the first day of trial in October and subsequently – have whittled the numbers down. Judge Christopher Butcher said in a summary of his ruling that the aircraft were lost and "that loss occurred on 10 March 2022, when a piece of Russian legislation banned the export of aircraft and aircraft equipment from Russia". The judge added that insurers were not prevented by EU or US sanctions from indemnifying the claimants for the loss of aircraft which had been leased to Russian airlines. Last week, Russian flag carrier Aeroflot said it expects to sign settlement deals with Western insurers and leasing firms on the last 36 planes from a total of 228 aircraft it agreed to buy, Aeroflot head Sergei Aleksandrovski told Russian newspaper Kommersant. "Only 36 aircraft remain, which are currently in the active phase of insurance settlement. Essentially, these are the last planes (needed to be settled) owned by fully fledged foreign lessors," Mr Aleksandrovski said. Aeroflot expects that the agreements on the 36 planes could be finalised by July. Reuters

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