UK court decides US$10b jet dispute to be heard in London, not Moscow

LONDON, March 28 — A US$10 billion (RM47.3 billion) battle between reinsurers and aircraft leasing companies seeking payouts for more than 200 jets stuck in Russia should be heard in London rather than Moscow, London’s High Court ruled today.

Aircraft lessors, including Ireland’s AerCap and US-listed Carlyle Aviation Partners, are pursuing insurers for financial losses after Russia’s invasion of Ukraine grounded their jets in Russia.

The lessors argued the legal case should be heard in London rather than Moscow, to avoid the risk of unfair hearings or inconsistent judgments.

Judge Andrew Henshaw ruled the cases should continue in London, saying in a written ruling on Thursday that “the claimants are very unlikely to obtain a fair trial in Russia”. — Reuters