HomeBankingMT ZOUZOU: Court of Appeal declines to hear mortgagee bank’s appeal of Commercial Court decision clarifying the scope of MII policy cover in MII underwriters’ favour
MT ZOUZOU: Court of Appeal declines to hear mortgagee bank’s appeal of Commercial Court decision clarifying the scope of MII policy cover in MII underwriters’ favour
Piraeus Bank A.E. v Antares Underwriting Limited and others [17.05.22]
By an Order dated 15 August 2022, the Court of Appeal has refused Piraeus Bank’s application for permission to appeal the decision of the Commercial Court in Piraeus Bank v Antares Underwriting Limited and others (‘The ZOUZOU’).
This means that the Bank will not have an opportunity to re-argue its case on policy construction, and the Commercial Court’s decision that where there has been no damage to the Bank’s insured interest as assignee and/or loss payee under the Owners’ insurance, there is no insured loss under the MII Policy, stands.
