Motor (transport) insurance Bureau of Ukraine (MTIBU) has complied with the decision of the Supreme commercial court on the suit of the insurance company Crown about the return guarantee of the contributions from the Fund to protect victims in an accident. This writes FinClub.
The motor insurance Bureau stated that it did not plan to challenge the decision in the Supreme court because according to the Economic procedure code, the decision is not a basis for reconsideration.
The Bureau does not believe this case is a precedent in the market, as there is no reason, as the practice of courts of General jurisdiction in Ukraine is not officially recognized source of law.
“The courts are also guided by the law and obey the law, and decisions taken by them, have the power of individual legal acts. In this regard, the decision in individual cases are binding only on the parties to those cases in which they are made, as well as for individuals and legal entities to which the requirements of the state,” he said in MTIBU.
Kompaniya Krona in late 2013, filed a voluntary withdrawal of the members of MTIBU, and the return of their guarantee fees. But the Bureau rejected the insurer to refund the guarantee fees, so the UK is “Crown” challenged this decision in the courts.