Aspen Underwriting Ltd and others v Credit Europe Bank NV

European Union – Insurance. In a case relating to the recovery of insurance proceeds, paid following the sinking of a vessel, the judge had not erred in holding that the tort element of the claimant underwriters' claim against the defendant bank could proceed in the English courts, but that the English court had no jurisdiction to entertain the underwriters' claim in restitution against the bank. Accordingly, the Court of Appeal, Civil Division, dismissed the underwriters' appeal and the bank's cross-appeal.

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