10.07.2010

With the help of Duvernoix Legal "Finance" magazine has won a law suit against "Ingosstrah" insurance company.

"Finance" magazine has won a law suit against "Ingosstrah" insurance company. In May 2009 "Finance" magazine published a "Rating of insurance companies’ reliability" in which "Ingosstrah", with the rating BB-, ranked eighth among the largest companies in 2008. The insurance companies with the financial results fitting the requirements of financial stability were included in B group, the magazine wrote in the comments to the rating’s scale.

"Ingosstrah" decided to dispute the abovementioned conclusions at law. The company considered that "Finance" magazine had published unreliable data, which could mislead consumers of insurance services, and has a negative influence on the company’s image, and asked the courts to recognize the rating as invalid. The Arbitration court of Moscow decided in favour of the insurance company, and the appellation also failed. However "Finance" filed an appeal to the Federal Arbitration Court of the Moscow district. The court reversed the judgments of the two courts and adjudicated the satisfaction of the claim of "Ingosstrah" (Source: Vedomosti newspaper)

Duvernoix Legal provided legal support to "Finance" magazine during the law suit.