UNDERWRITERS OF L'ATLANTIQUE.

Press, Volume LXIX, Issue 20772, 4 February 1933, Page 15

UNDERWRITERS OF L'ATLANTIQUE.

DISPUTE WITH OWNERS LLOYDS WANT REPAIRS DONE IN ENGLAND. (UXITED PfIESS ASSOCIATION— tt EMtCTRIO •TELEGRAPH—COITKIOHT.) (Received February 3, 8.45 p.m.) LONDON, February 2. " The "Daily Express" says a gravt dispute has arisen between the London underwriters and the owners ot L'Atiantique, who are demanding th« whole of the £1,500,000 insurant-©, . although the ship is not a total loss. - Tho French Government shared tho insurance risk with. Lloyds, otherwise the owners would simply have abandoned the vessel, and had a clear . claim to the insurance, Lloyds contend the ship can be repaired in England lor half what. the cost of doing the work in French vards will be. "But tho French Gov- , ernment wants all the money for re» pair.; kept in France.'' The French luxury liner L'Atiantique, of 45,512 tons, was burnt to ft'shell-, following an outbreak of firo in a cabin on January 4, when she was on the wtty to Le Havre for overhaul. Fortunately no passengers were on board at the time, but some members of the crew were drowned before they could be picked up by relief ships, and others were caught in the fire, 21 in all being lost. When the fire had abated sufficiently to enable the ship to be taken in low there was some dispute among the tugs for possession of the priste, and at one time four tugs of different nationalities were pulling in different directions. Eventually she was towed to Cherbourg. The insurance on the ship Was originally stated to be £2,000,000, of which £1,250,000 was held in the London market, but the risk was spread over & large number of underwriters, so that, although the loss was • one of the largest in recent years, it was not likely seriously to" incommode any individual firm. ..' .