Decision ID: 001642
In March 2005 the 1992 Fund Executive Committee noted that in December 2004 the Commercial Court in Saint-Nazaire had rendered a judgement in respect of a subrogated claim for £447,000 by an insurer that had paid that amount to a group of hotels in La Baule for losses incurred as a result of the cancellation of a major Millennium party which was to have taken place on the beach. It was noted that the Municipal Council of La Baule had issued a decree on 27 December 1999 prohibiting access to the beaches in La Baule, as a result of which the party had to be cancelled. It was noted that although the Fund had considered that the claim was admissible in principle, it had been rejected on the grounds that the claimant had not submitted sufficient information to enable the Fund to assess the losses and the insurer had not taken into account the income received by the hotels during the Millennium festivities, which should have been deducted from the losses due to the cancellation of the event. The Committee noted that the Court had estimated the income over the period of the Millennium festivities at £142,000 and had ordered the shipowner/insurer and the 1992 Fund to pay the balance of £305,000 to the insurer. The Committee noted that the Fund had appealed against the judgement.