What started as a trickle is now a flood, as the soon to be second largest-aircraft lessor in the world has initiated legal proceedings against one of its insurers in the Irish High Court.  Dublin-based SMBC Aviation Capital Ltd has begun a plenary action against its insurers, including Lloyd’s Insurance Company, to pursue its claim for planes marooned in Russia. Last July it recorded an impairment of $1.6 billion to cover the full financial impact of having 34 jets stuck in Russia. At the time the company said it was writing off the full carrying value of the aircraft that…

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