Carnival Corp says it is going to take a $90million hit

[tulsacubfan]

Acutually cost if all 4200 sue will be closer to $50,000,000, Costa has already said that all on board will be reciving refunds in full. And although 75k is the max. The apx. 36 dead, (based on 11 dead and 25 missing as ogf the last report I gheard), the remaining on board will have claims on injuries and lost personal items. Which ussaly average out to between 10k and 15k per person. Although courts normally can add punitive damages. Would be hard to justify much over acutul lose when lost of life would be limited to 75k.

 

 

That doesn't include the business interruption losses, the property losses of the ship, and if they don't get something done soon, there will be environmental damage.....and that can cost big bucks!

[cdamion]

Without knowing how the Italian justice system works, I would guess that a class action will be filed, the lawyers and insurance actuaries will sit down at a big table and hammer out a settlement amount (probably with a non-disclosure agreement).

 

I sincerely doubt this will ever see the inside of a courtroom.

 

Another clause in the passenger contract bars the filing of class action suits (again attorneys will argue around this for the sake of 'judicial economy').

 

You are right though, while lawsuits are sure to be filed, the chance that they will ever get to trial is slim - the cases will most likely be settled. The exception will be if somebody gets too greedy.

[tulsacubfan]

I think this is a case where they are going to pay out well over the 75k limit with respect to the wrongful death claims. The inconvenienced passengers will probably hit the 75k limit unless there was some type of severe injury.

 

This is a very arguable gross negligence case.

 

While I agree this could be argued as gross negligence, I don't see the inconvenienced passengers getting anywhere near $75K a piece.....

[tulsacubfan]

Prudent management of their investment portfolio.

 

Here is a logic conundrum for you. If an insurance company holds CCL stock in its portfolio should it increase the premiums? They would after all be charging themselves more.

 

 

And where do those dollars come from to invest?

 

Interesting conundrum...

[tulsacubfan]

Without knowing how the Italian justice system works, I would guess that a class action will be filed, the lawyers and insurance actuaries will sit down at a big table and hammer out a settlement amount (probably with a non-disclosure agreement).

 

I sincerely doubt this will ever see the inside of a courtroom.

 

I would agree with that!

[cdamion]

While I agree this could be argued as gross negligence, I don't see the inconvenienced passengers getting anywhere near $75K a piece.....

 

Particularly those that were home within 2 or 3 days without injuries. They would have to beat (1) maritime law conventions that have damage limits, (2) the passenger contract that has a specific $75k limit, and (3) whatever Italian civil laws apply.

 

Unfortunately I can foresee people, at least here in the US suing TA's. I don't know if people are as litigious in other countries.

[cruizinwoman]

oh my the people at carnival have taken the emergency steps of crunching the numbers to get an idea of weather they will be able to get a big bonus.

 

If the carnival people really do read this board, please tell the guys in the main office this is not the way to handle such a tragedy.

 

 

agreed!

[cruizinwoman]

Worse than manslaughter under the law is abandoning ship. He will be sentenced to about 12 years in prison if it is found that he abandoned ship. The manslaughter is a lessor crime under maritime law.

 

 

I just hope he is NEVER again allowed onboard a ship of any size, type, or anything. According to reports on CNN, he has steered off course before and been repromanded (sp?) for it. GET HIM IN PRISON WHERE HE BELONGS!

[tulsacubfan]

I just hope he is NEVER again allowed onboard a ship of any size, type, or anything. According to reports on CNN, he has steered off course before and been repromanded (sp?) for it. GET HIM IN PRISON WHERE HE BELONGS!

 

Even if he isn't in prison, I cannot envision any scenario where he keeps his license

[klfrodo]

agreed!

 

goodness, here we go again.

 

For your information, as a publicly traded company and by law, Carnival MUST answer to the SEC and the public as to what the financial loss may be as soon as possible.

It has NOTHING to do with people trying to count their bonus money.