Ilyashev & Partners secured settlement of the largest insurance compensation
Ilyashev & Partners has represented the interests of Budpostach – the leading national player of professional equipment and tooling market of Ukraine, in handling an insured fire accident which resulted in burning down the company warehouse in Kyiv on 2 February 2019.
On 5 December 2019, the Insurance Company Universalna, where Budpostach insured its property (goods in circulation), made an out of court reimbursement of losses incurred by Budpostach as a result of the fire, and settled UAH 272.59 million of insurance compensation to the client of Ilyashev & Partners.
This settlement has become the largest negotiated in the Ukrainian insurance market in 2019, and one of the largest in its history.
As a reminder, a fire occurred in a warehouse rented by Budpostach close to the largest market in Kyiv. As a result of the fire, a part of the warehouse – more than 10 thousand square meters, as well as the premises of other warehouse tenants, burned down.
The services of Ilyashev & Partners included representation of interests, provision of consultations and interaction with the insurance company as regards to winning the insurance compensation, rendering assistance in supporting the investigation and establishment of the causes and circumstances of the fire, as well as representation of the interests of the client as of the suffering party in criminal proceedings initiated subject to Article 194 (2) of the Criminal Code of Ukraine (intentional destruction or damage to property through arson, which caused damage on an especially large scale).
The comprehensive forensic fire investigation and metallographic examination found that the fire resulted from a short circuit; no violations of fire safety rules in the seat of fire were detected. Taking into account the expert’s opinion, witness testimonies and other evidence gathered during the pre-trial investigation, as well as having due regard to the absence of the elements of crimes provided for not only by Article 194, but also Article 270 of the Criminal Code of Ukraine (violation of fire safety rules), the criminal proceeding was dropped in July 2019.