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Pepeliaev Group Successful for Mucos Pharma in Insurance Claim Dispute

Pepeliaev Group Successful for Mucos Pharma in Insurance Claim Dispute

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The Pepeliaev Group has successfully represented Mucos Pharma CZ in a USD 500,000 dispute against a Russian insurance company over a payout under an insurance agreement along with interest for the use of another party's funds.

Mucos Pharma is a Czech pharmaceutical company that distributes enzyme therapy products in Europe and Russia/CIS.

According to the Pepeliaev Group, "over an extended period, the insurance company took no decision to make the insurance payout further to the documents submitted by Mucos Pharma ... despite the fact that an insurance event had taken place and the company provided the documents as required under the insurance agreement."

The Pepeliaev Group describes the case as "complicated," because rulings from Russian courts ⎯ including Russia's Supreme Court ⎯ “are usually detrimental to clients of insurance companies in cases where insurance companies are directly involved as defendants.” Nonetheless, the firm reports, "courts in all three instances confirmed that Mucos Pharma's claims were lawful. Thus, the insurance company was forced to make the insurance payout to Mucos Pharma in full, together with interest for the use of another party's funds."

The Pepeliaev Group team consisted of Partner Sergey Spasennov and Associates Alexandra Antonik and Elena Rybalchenko.

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Founded in 1993, Egorov Puginsky Afanasiev & Partners is the leading full-service law firm in the CIS with offices in Russia, Ukraine and Belarus and associated office in Cyprus.

We handle some of the largest and most complex and demanding transactions. We advise our clients in many areas of law, including: dispute resolution in Russia and abroad, International Arbitration and Litigation, M&A and Corporate, antitrust issues, criminal law, intellectual property, restructurings and insolvencies, international trade and customs, tax, real estate and construction, banking and finance, energy and natural resources, environmental and technical regulation, marine and transport law, pharmaceuticals and healthcare and others.

We combine high academic qualifications, internationally acknowledged moral and ethical values, senior partners' professional experience and practical abilities with the vigour and knowledge of younger attorneys, providing clients with reliable, first-class service according to both Russian and western standards through a flexible structure.

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Firm's website: www.epam.ru


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