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Political Risk & Trade Credit

Our political risk & trade credit team is a market leader in this specialised class

Our global political risk & trade credit team advises leading political risk and trade credit insurers on product development, claims, recoveries and international disputes.

We act in cases involving a range of jurisdictions, often in very difficult markets, and including matters of international and local laws as well as insurance issues. We have been instrumental in product development and handle issues arising throughout the lifecycle of risk.

We act for insurers in London, the US, Europe, the Middle East and Asia Pacific, and have partnered with clients on all of the major crises affecting the political risk and trade credit markets over the last 30 years. Some notable examples include advising on claims arising from the Arab Spring in Egypt and Libya, bank collapses in Ukraine and Kazakhstan following the global financial crisis, and the 2010 disturbances in Thailand.

We are experienced in the preferred forums for dispute resolution in this class, particularly the London Court of International Arbitration and the Commercial Court in London, and in arbitrations under the rules of the ICC and UNCITRAL.

Our Political Risk & Trade Credit Work

  • Afrique
  • Amériques
  • Asie Pacifique
  • Royaume-Uni & Europe
  • Advising on the impact of trade and economic sanctions

    Advising on claims arising from the Arab Spring and advising on the impact of domestic and international trade and economic sanctions imposed upon Iran, Libya and Syria

    Libya
  • Claims arising from the pesification regime in Argentina

    Advising on various claims arising out of the pesification regime in Argentina, with the focus being on whether changes to payment arrangements provided to concession holders constituted “expropriation” within the wording of the London market policy.

    Argentina

    Political risk cover for zinc and lead mines in South America

    Advising a bank on political risk cover for investments in lead and zinc mines in South America

    Brazil

    Successfully defending the Dispute Clause in an export credit insurer's accounts receivable policy

    Successfully defending the Dispute Clause in a large export credit insurer's accounts receivable (shipments) policy for the fifth time before Canadian courts, including favourable decisions of both the Quebec and the Ontario Courts of Appeal.

    Canada

    Political risk insurer in an LCIA arbitration

    Successfully representing a political risk insurer in a LCIA arbitration relating to Venezuela

    Venezuela
  • Groundbreaking English court decision on political risk insurance

    Advising the successful Lloyd’s underwriters in their defence of the only reported decision of the English courts in recent times relating to political risk insurance; International Lottery Management v Dumas, which relates to issues of non-disclosure and misrepresentation with respect to...

    Azerbaijan

    Dispute resolution and subrogated recovery action

    Acting for credit insurers in a subrogated recovery action against the Chinese aluminium plant primary debtor and its associated debtor/guarantor companies in Hong Kong and the PRC. This matter involved complex dispute resolution and governing law provisions due to the underlying export contract...

    China

    CEND claims regarding power plants

    Acting for political risks insurers in CEND claims involving power plants on the Indian subcontinent

    India

    Pertamina: The largest recovery action in the political risk market

    Continuing involvement in the ground-breaking Pertamina case which remains the largest recovery action in the political risk market (around USD 300 million) against Indonesian State Oil & Gas Co

    Indonesia

    Thai steel exports and the 2010 disturbances

    Advising on the 2010 disturbances in Thailand as well as acting for an export credit insurer of a steel trader in respect of the trader’s pre-export finance facility with a Thai steel mill

    Thailand
  • Bank collapsing following the global financial crisis

    Advising on claims stemming from bank collapses in Ukraine and Kazakhstan following the global financial crisis

    Ukraine

    Advising on issues arising from global financial crises

    Advising on issues arising under the contract frustration, export credit and political risk policies from the international financial crises affecting the Far East, the former Soviet Union and Latin America, both in respect of trade and investment

    United Kingdom

    Avoidance of a trade credit insurance policy

    LCIA arbitration arising out of the avoidance of a trade credit insurance policy on the basis of the insured's non-disclosure and misrepresentation as to its financial practices that effectively removed its self-insured retention.

    United Kingdom

Our Political Risk & Trade Credit team

Aysha Azam
Aysha Azam

Associate

Mark Beswetherick
Mark Beswetherick

Partner

Laure Bonnave
Laure Bonnave

Avocate sénior

Dean Carrigan
Dean Carrigan

Partner

Conte Cicala
Conte Cicala

Partner

William Cooney
William Cooney

Senior Associate

Jeffrey Fegan
Jeffrey Fegan

Partner

Anaïs Gillet
Anaïs Gillet

Associate

Laura Gongaware
Laura Gongaware

Senior Associate

Andrew Grant
Andrew Grant

Partner

Matthew Harvey
Matthew Harvey

Senior Counsel

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