Mobile telephone wholesaler Connekt Cellular Communications has won its case against Ecclesiastical Insurance over the extent of its transit cover.
A £340,000 shipment of handsets was stolen from Connekt's warehouse after being delivered by a supplier late on a Friday at the start of a bank holiday weekend.
Connekt's contract was with Gloucester Underwriting Agency, whose carrier was Ecclesiastical.
Ecclesiastical argued that the loss fell outside the terms of Connekt's transit cover, based on its interpretation of the institute cargo clauses.
But last week the court found the goods were delivered to the warehouse for their onward transmission and ruled in favour of Connekt.
Ecclesiastical said it was still considering whether to appeal.