BANK LEUMI LE ISRAEL BM v. BRITISH NATIONAL INSURANCE CO. LTD. AND OTHERS

[1988] 1 Lloyd's Rep. 71

QUEEN’S BENCH DIVISION(COMMERCIAL COURT)

Before Mr. Justice Saville

Insurance (Contingency) - Non-disclosure - Misrepresentation - Loan made by bank to finance cost of production of feature film - Loan secured by letter of credit and contingency insurance - Loan not repaid - Bank claimed under policy - Whether insurers entitled to avoid policy for misrepresentation and non-disclosure - Whether bank had an insurable interest.