The owner of My Song, which suffered irreparable damage last year after falling off a transport ship, wants compensation for her replacement value. He has therefore sued the transport company, Peters & May.
Pier Luigi Loro Piana, president of the Italian fabrics and clothing company bearing his last name, took delivery of the yacht, a Baltic 130, in 2016. In May of last year, he had the yacht placed aboard a ship in Antigua, for carriage to Genoa, Italy. This was in preparation for the 2019 Loro Piana Superyacht Regatta in Sardinia. My Song had competed in the race previously, and won. On May 26, however, My Song fell overboard, while the ship was between Palma de Mallorca and Genoa. My Song lost her mast and partially sank. A salvage ship retrieved her and towed her to Palma de Mallorca for inspection. The yacht’s hull had holes, among other damage.
Through a spokesperson, Loro Piana stated at the time, “The damage outside and to the interiors of the yacht mean it is not savable.” Additionally, he speculated that the carbon-fiber-composite My Song hit the transport ship’s side when she fell overboard. Regardless, he went on to say that further investigating would continue, for insurance purposes.
Initially, this summer Loro Piana filed the lawsuit in a Milan court. He claimed damages equal to the yacht’s value, which he places at nearly $33 million. However, since Peters & May headquarters are in England, the lawsuit transferred to the Royal Courts of Justice in London. Just yesterday, a judge ruled that the case will remain there. But, lawyers for the owner of My Song are attempting to continue the case in Italy.
In the lawsuit, Loro Piana claims the yacht is worth $33 million. In court documents, Peters & May reiterated a statement it made a few days after the accident. “The primary assessment is that the yacht’s cradle—owned and provided by the yacht, warrantied by the yacht for sea transport and assembled by the yacht’s crew—collapsed during the voyage.”
We reached out to Peters & May for additional commentary. The company did not respond to our request by press time.
Peters & May petersandmay.com