R+V Versicherung Ag v Risk Insurance and Reinsurance Solutions SA & Ors

Colin Edelman Esq, QC & Charles Dougherty Esq (instructed by LeB�uf Lamb Greene & Macrae) for the Claimant Hugo Page Esq, QC (instructed by Penningtons) for the 2nd & 3rd Defendants Hearing dates: 12 January 2007 (further written submissions 15 January 2007) REASONS FOR RULING MADE ON 12.01.07 ____________________

i) the "SHTTL" binder which allowed Risk France (the first defendant) to bind short tail property and contingency risks on behalf of R+V, subject to the terms of the binders;

ii) the "UNL" binder which allowed Risk France to bind personal accident risks on behalf of R+V, subject to the terms of the binders.

i) Mr.�Gebauer had no authority to enter into the 40% addenda and this was known by the defendants (through Mr.�Chalhoub); and that the 40% addenda were entered into as part of a dishonest conspiracy between the defendants and Mr.�Gebauer to defraud R+V.

ii) Mr.�Gebauer conspired with the defendants to route business which did not otherwise fall to be accounted for under the UNL and SHTTL binders through those binders, so that a 40% deduction was levied on these premiums which would not otherwise have been payable.