In a judgment of July 30, 2018, the Sint Maarten Court of First Instance ordered Nagico to pay Princess Juliana Airport (PJIA) an advance of $ 33,2 million. This amount is in addition to the advance of $ 25 million already paid by the insurer.
“In its judgment, the Court held that although the dispute between PJIA and Nagico is complicated both legally and technically, PJIA has an urgent interest in obtaining an advance on the insurance payments to which it is entitled, in order to be able to continue to rehabilitate the airport ”indicates the airport in a press release published on July 30 on its website.
"PJIA had filed an injunction on May 15 and was claiming an advance of $ 72,6 million and a payment of $ 2,3 million in June, July and August 2018. The airport is covered for a maximum amount of 193,3, $ 29,5 million for property damage and $ 17 million for lost profits. In this injunction, PJIA had filed several damage reports, but mainly based its claim on the May 94,7 report by Corgan / Faithful and Gould, which estimated the restoration of the airport at $ 28,5 million. As for the shortfall, PJIA was based on an estimate by Willis Tower Watson, which mentioned damages of $ 31 million. Said the Daily Herald in a July XNUMX article.
An amount disputed by the insurer which, as recalled by the Daily Herald, and based on the report of experts, estimates the amount of the loss and loss of profits at a total of $ 37 million.
In addition to the $ 33,2 million advance, Nagico was ordered to pay PJIA 20 Netherlands Antillean guilders (just over $ 000) in legal costs. “We are very satisfied with the judgment of the Court,” said Ravi Daryanani, interim CEO, and Michel Hyman, COO of PJIA.
The lawyers for PJIA De Vries and Van den Brink consider that although a considerable amount has been awarded, this is only part of the amount to which PJIA is entitled. The board of directors at Princess Juliana-SXM International Airport said they hoped that the settlement of insurance compensation would now be processed more quickly by Nagico. “Our adjusters and the Nagico claims agency continued discussions on the settlement of PJIA's insurance claim during the proceedings. We hope that PJIA's claim will be settled amicably and we hope that no further legal action will be required. This would not only be in the interest of PJIA, but also that of Sint Maarten. " he added.
(Source: www.soualigapost.com)
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