An application by an insurance company seeking declarations regarding paying life insurance policy monies into Court where the Respondent had been charged with the murder of the deceased.
The Court determined it would make the declarations sought by the insurance company for payment of policy monies to the Court rather than the Respondent or the deceased’s estate. While the Court noted it would not make an order preventing the Respondent from being entitled to interest for the delay of the life insurance payment, it was satisfied that some time would pass before the murder charge could be determined which was fundamental to determining whether the Respondent was entitled to the policy monies and it would therefore be appropriate for the insurance company to pay the policy monies to the Court.
The Court also considered the insurance company’s submission for costs order on an indemnity basis. The Court concluded that the insurance company was entitled to have some indemnification of its reasonable costs as it was put in the position of having to pay the money into court with no fault on its part. However, the Court also struck a balance between the insurance company’s associated costs for arguing the matter and the possibility of the Respondent being innocent of the murder charge and the resulting unfairness to deduct from his entitled policy monies the insurer’s costs.
Michael May appeared for the Applicant, instructed by CooperGraceWard.
The judgment is published here.