MDM Law firm

The firm successfully represents Underwriters from the London insurance market in a Fine Art dispute

The Guggenheim Museum in New York

– the firm has successfully advised Underwriters from the London insurance market in the legal proceedings brought by the assured before the Court of Milan. The Underwriters were acting as defendants in the case and the assured was claiming the assessment of the validity of his unilateral withdrawal on ground of an alleged just cause from the appraisal prior to its conclusion and consequently the invalidity of the conclusions raised by the appraisers on the loss. As a result of the above demands, the assured was claiming the payment of an indemnity of Euro 10 Millions for the damages caused to a collection of high value works of art allegedly occurred during an exhibition. In its Judgement the Court of Milan ruled that (a) the appraisal clause implies a condition precedent to the lawsuit until the conclusion of the appraisal; (b) during the appraisal the assured is not entitled to unilaterally withdraw from the agreement; (c) once concluded, the appraisal can be disputed only on ground of defects in consent (mistake, duress and fraud) or breach of contract. The Court accordingly dismissed the entire claim of the assured. The assured lodged an appeal against the judgement of the lower Cour but the Court of Appeal of Milan has dismissed the claim on the merit.

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