Quadra Commodities SA v XL Insurance Company SE and Others [2023] EWCA Civ 432- Court of Appeal (Sir Julian Flaux, Chancellor, Lord Justice Popplewell and Lord Justice Snowden) - 21 April 2023

Insurance (marine) - Cargo claim - Insurable interest - Interest in part of identified bulk cargo - Marine Insurance Act 1906, section 5

Quadra was a Swiss company trading in agricultural commodities, including grains, oilseeds and vegetable oils. Quadra had from 2014 dealings with the Agroinvest Group of companies in respect of the trading of commodities in Ukraine. In particular Quadra concluded three contracts with one of the companies, Linepuzzle, as follows: (1) a contract dated 14 November 2018 for the purchase of 4,750 mt Ukrainian wheat; (2) a contract dated 22 November 2018 for the purchase of 4,650 mt Ukrainian wheat; and (3) a contract dated 11 January 2019 for the purchase of 4,150 mt Ukrainian barley.