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Kuwait Airways Corporation The Minister of Finance of the State of Kuwait -v- Kuwait Insurance Co SAK Warba Insurance Co SAK Al Ahleia Insurance Co SAK Gulf Insurance Co KSC (NO 2)

15th Dec 1999

[2000] Lloyd’s Rep IR 439; [1999] 1 Lloyd’s Rep. 803; [1996] 1 Lloyd’s Rep 664

Jonathan Gaisman Q.C. led Stephen Phillips – Insurance (aviation) – Loss of fifteen aircraft and spares following invasion of Kuwait by Iraq – Eight aircraft recovered – Whether value of recovered aircraft to be apportioned between insurers and insureds – Whether value of recovered aircraft was agreed value or market value – Whether recoveries to be set off against aggregated claim or separately against aircraft and spares – Whether policy new for old – Whether insureds entitled to order for interim payment – CPR rule 25.7.