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.
