Insurance – Reinsurance. The Commercial Court considered preliminary issues in a dispute between the claimant insurer and the defendant reinsurer. The court held that a loss suffered by a company ensured by the claimant, BVC, had been suffered each time money paid into an escrow account by BVC was drawn down by a third party. As a result, the issue would be determined in favour of the claimant and the other preliminary issues would fall away.