claim compensation from the insurers

[vinshel]

Siegfried owned an aircraft that was used to transport personnel on time-sensitive missions. The aircraft has been valued at �1.25m, and insured for that amount in Siegfried's name. After insuring the aircraft, Siegfried formed a limited liability company, Twilight Ltd, and transferred the aircraft to it. In exchange for transferring the aircraft, Siegfried received a debenture secured by a floating charge on the assets of the company (although the company's only asset was the aircraft) and all the shares in the company except one, which is owned by his wife, Brunhilde, on trust for Siegfried. Unfortunately, the aircraft was mistakenly shot down by the American air force whilst operating near the Afghan mountains.


Question:
Discuss whether Twilight Ltd, or in the alternative, Siegfried could claim compensation from the insurers for the loss of aircraft ?

[factor-fiction]

Thank you. Yes we discussed it in the pub tonight. We concluded Twilight should contact a solicitor.

Maybe the law isn't for you, vinshel.

[Mrs_Pegasus]

Google it or research your own homework.