KYLE BAY LTD v UNDERWRITERS SUBSCRIBING TO POLICY NO 019057/08/01
[2006] Lloyd's Rep IR Plus 17
QUEEN’S BENCH DIVISION(COMMERCIAL COURT)
Before Jonathan Hirst QC (sitting as Deputy High Court Judge)
Insurance (business interruption) – Whether policy
written on gross profits (average) basis or declaration linked basis (no
average) – Whether policy could be rectified – Claim compromised under final
settlement on basis of gross profits cover – Whether settlement void for
mistake or voidable for misrepresentation – Whether
settlement subject to condition precedent.