Marine insurance: credit risk

In ABN Amro Bank NV v Royal & Sun Alliance Insurance plc [2021] EWCA Civ 1789 the Court of Appeal has reversed in part the lengthy judgment of Jacobs J at first instance, [2021] Lloyd’s Rep IR 467. There was no appeal against much of the judgment, but two issues were appealed. In the event, the dispute over one of the issues was settled, but the Court of Appeal nevertheless expressed its views on what the outcome would have been but for the settlement.

ABN Amro : the facts