DEUTSCHE RUCKVERSICHERUNG AKTIENGESELLSCHAFT v. WALBROOK INSURANCE CO. LTD. AND OTHERS GROUP JOSI REINSURANCE CO. S.A. v. SAME

[1995] 1 Lloyd's Rep. 153

QUEEN’S BENCH DIVISION(COMMERCIAL COURT)

Before Mr. Justice Phillips

Practice - Reinsurance - Affidavit evidence - Application to strike out - Reinsurers issued letters of credit in favour of reinsured - Reinsurers alleged contracts avoided for fraudulent misrepresentation and non-disclosure - Affidavits relied on DTI investigations - Whether parts of affidavit referring to DTI reports should be struck out. Reinsurance - Letters of credit - Allegations of fraud - Reinsurers issued letters of credit in favour of reinsured - Reinsurers alleged contracts avoided for fraudulent misrepresentation and non-disclosure - Whether injunction restraining payment under letter of credit should be granted - Whether reinsured should be restrained from disposing of any sums drawn under letter of credit.