19 Dec 2013
POSSEHL ELECTRONICS HONG KONG LTD v. CHINA TAIPING INSURANCE (HK) CO LTD
- Citation
- POSSEHL ELECTRONICS HONG KONG LTD v. CHINA TAIPING INSURANCE (HK) CO LTD
- Court
- Court of First Instance
- Case number
- HCA2354/2012
The court held that Condition 12 of the Property Policy plainly required any action or arbitration to be commenced within 12 months of the happening of the loss (4 June 2011); Possehl did not commence action or arbitration within that period and therefore the claims are barred. The arbitration notice was invalid because the arbitration clause applied only to disputes as to the amount payable and no such dispute arose where the insurer rejected liability in toto. The Business Interruption Policy's condition precedent was also unmet. Accordingly the Statement of Claim was struck out and the Act…