Oxigen, a garbage recycling entity, is initiating a lawsuit against an insurance firm, aspiring to secure approximately €2 million. The claim is based on the insurer allegedly refusing to acknowledge a claim in relation to a fire that broke out at Oxigen’s facilities located in Dundalk, Co Louth. The incident, which led to substantial losses for the company, transpired on June 14th, 2022 at Oxigen Environmental Unlimited Company’s site on Coe’s Road.
Oxigen made an insurance claim three days post the incident, invoking a policy coverage they had procured in 2020 effective from April 2022 to April 2023. According to Oxigen, the insurance corporation, Helvetia Global Solutions Ltd, both domiciled in Vaduz, Liechtenstein, and registered in Ireland with a legal representative’s address listed through Kennedys Solicitors on Sir John Rogerson’s Quay in Dublin, defaulted, rejected, or overlooked its duties under the policy.
This led Oxigen to file a High Court case against Helvetia. This was placed on the high priority commercial roster last Monday by Mr Justice Denis McDonald, with both parties consenting to the application presented on behalf of Oxigen by Martin Canny BL, along with Martin Hayden SC.
Brian Moylan, the chief of planning and compliance for Oxigen, has argued in a court affidavit that the company fulfilled all obligations under its policy to proceed with the claim. He elucidated that although Oxigen had supplied extensive factual proof and expert testimony, Helvetia had violated contractual terms by neither confirming an indemnity nor responding in a timely and satisfactory manner. He mentioned that the solvency insurer even declined an invitation to participate in a mediation conference. Mr Moylan also revealed some critical lapses in the defendant’s own expert report.
Oxigen is portraying losses of approximately €1.89 million, a figure that when supplemented with loan interest amounting to roughly €175,000, culminates in a total claim sum slightly above €2 million.
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