We represented Stomana Industry S.A, one of the largest steel producers on the Balkan Peninsula, in a dispute with six insurance companies concerning the payment of insurance indemnity following an explosion at its factory. The claim covered damage to buildings and equipment, as well as loss of profit resulting from business interruption.

Our work included reassessing the damages caused by the insured event, advising on the insurance claim, and liaising with the beneficiary banks under the insurance policy, including foreign banks.

Following a significant partial payment by the leading co-insurer, we initiated court proceedings for recovery of the outstanding amount. The court ruled in favour of our client, awarding a substantial portion of the insurance indemnity claimed.