Arbitral Digest

Matter

Crédit Industriel et Commercial (CIC) v Compagnie française d'assurances pour le commerce extérieur (COFACE) (French Court of Cassation, Commercial Chamber, 14 March 2006)

  1. 11 June 1999France

    11 June 1999France

    Judgment of the Paris Court of Appeal dated 11 June 1999

    Paris Court of Appeal

    Decision summary
    The Paris Court of Appeal rejected CIC's claim for indemnification from COFACE after finding that CIC had not taken the measures necessary to preserve the IRB guarantee.

    Supporting details

    2 participants
    Crédit Industriel et Commercial (CIC)
    Compagnie française d'assurances pour le commerce extérieur (COFACE)
    Paris Court of Appeal

    3 years, 7 months and 3 days later · 1313 days

  2. 14 January 2003France

    14 January 2003France

    Judgment of the French Court of Cassation, Commercial, Financial and Economic Chamber dated 14 January 2003

    French Court of Cassation, Commercial, Financial and Economic Chamber

    Decision summary
    The Court of Cassation quashed the Paris Court of Appeal judgment after holding that COFACE could not require CIC to invoke the IRB guarantee when that guarantee had automatically lapsed upon non-payment of premiums.

    Supporting details

    2 participants
    Crédit Industriel et Commercial (CIC)
    Compagnie française d'assurances pour le commerce extérieur (COFACE)
    French Court of Cassation, Commercial, Financial and Economic Chamber

    1 year, 5 months and 9 days later · 526 days

  3. 23 June 2004France

    23 June 2004France

    Judgment of the Paris Court of Appeal dated 23 June 2004

    Paris Court of Appeal

    Decision summary
    The Paris Court of Appeal rejected CIC's indemnification claim against COFACE, finding that the IRB guarantee conditioning CIC's right to indemnification was illusory.

    Supporting details

    2 participants
    Crédit Industriel et Commercial (CIC)
    Compagnie française d'assurances pour le commerce extérieur (COFACE)
    Paris Court of Appeal

    1 year, 8 months and 19 days later · 629 days

  4. 14 March 2006France

    14 March 2006France

    Judgment of the French Court of Cassation, Commercial, Financial and Economic Chamber dated 14 March 2006

    French Court of Cassation, Commercial, Financial and Economic Chamber

    Decision summary
    The Court of Cassation quashed the Paris Court of Appeal judgment of 23 June 2004 and remanded the case to a differently composed Paris Court of Appeal. It held that the appellate court had failed to examine whether COFACE, as a professional insurer, should have obtained and checked the IRB policy terms before agreeing to provide its own cover, and whether that omission caused COFACE's ignorance of those terms. COFACE was ordered to pay costs, and its claim under Article 700 of the New Code of Civil Procedure was rejected.

    Supporting details

    2 authorities · 2 participants
    Crédit Industriel et Commercial (CIC)
    Compagnie française d'assurances pour le commerce extérieur (COFACE)
    French Court of Cassation, Commercial, Financial and Economic Chamber

    Authorities cited

    2
    • French Civil Code
      statute
    • French Code of Civil Procedure
      statute
  5. Date not availableArbitration

    Date not availableArbitration

    Arbitral Award recognizing CIC's claim against Ferrovalbra

    Decision summary
    The arbitral award recognized CIC's claim against Ferrovalbra.

    Supporting details

    2 participants
    Crédit Industriel et Commercial (CIC)
    Ferrovalbra

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Crédit Industriel et Commercial (CIC) v Compagnie française d'assurances pour le commerce extérieur (COFACE) (French Court of Cassation, Commercial Chamber, 14 March 2006) · Matter