need2cruisesoon Posted March 31, 2014 #1 Share Posted March 31, 2014 The Regal princess was impounded last month at the Fincantieri shipyard by an Italian court over a workers compensation claim. The claim says a construction worker at the shipyard was injured back in 2007 and relegated to a wheel chair and was never given given the full compensatory amount for damages. This is according to the publication/website The Meditelegraph in Italy. I do not know if this court case has been resolved or still in litigation and have not heard of any new information. I have no idea how this will impact upcoming inaugural cruises or whether Princess has a back up plan. Please note another thread here by DMWNC1959 "Countdown to Regal Princess" has been following the progress and completion of the ship as she gets ready to sail in May has asked a curious question in a recent thread - "With less than two months until her Maiden Voyage I'm still surprised we have heard literally nothing, or seen more updates, from Princess Cruises or the shipyard." Perhaps now we have a better understanding now why this is the case of relatively no news per se. LINK http://www.themeditelegraph.com/en/2014/02/11/regal-princess-fincantieri-jrzHEAFPZrWcYGUv8HKVDL/index.html Link to comment Share on other sites More sharing options...
beg3yrs Posted March 31, 2014 #2 Share Posted March 31, 2014 I wouldn't fret over it even if I was booked on the maiden voyage. The impound is to guarantee there's going to be money available to pay the claim if it's found to be valid. Princess can easily post a bond to eliminate the impound. Kind of like bail! Link to comment Share on other sites More sharing options...
Kamloops50 Posted March 31, 2014 #3 Share Posted March 31, 2014 How can a worker injured in 2007 hold Princess responsible . Only in Italy can this happen. Link to comment Share on other sites More sharing options...
Loonbeam Posted March 31, 2014 #4 Share Posted March 31, 2014 Until Fincantieri transfers the ship to Princess, and Princess makes final payment, they don't own the ship yet, the builder still does technically. It's like ordering and buying a house, until final payment is transferred, its the builders. Also, impounding a ship, depending on the terms, doesn't necessarily mean work has to stop. A judge can issue an order that the ship not sail but people can still come and go. It would be assumed that the value of the hull itself would be sufficient to backstop the claim (I would hope) so no concern about people taking off tools, etc.. Link to comment Share on other sites More sharing options...
Kamloops50 Posted March 31, 2014 #5 Share Posted March 31, 2014 With a May delivery ,I would expect that sea trials should be starting soon. Link to comment Share on other sites More sharing options...
AlaskaGolden Posted March 31, 2014 #6 Share Posted March 31, 2014 Is this the next ship due for deployment out of that yard? If so, it makes some sense the court would do this. But doesn't the ship yard have other assets (like bank accouts, real property) that could have "holds" put on them? That is what probably would have happened in the U.S. Link to comment Share on other sites More sharing options...
peety3 Posted March 31, 2014 #7 Share Posted March 31, 2014 Frankly, who cares? In the grand scheme of things, that ship is only worth its maximum if it delivers to Princess. If the court were to hold up its sale, the value will diminish, and so will the court's ability to settle the claim. If the court were to force it to auction, any other line would have guaranteed costs to modify the ship's name and probably the deck plans/decor/etc. This is most likely just a lien, so if/when the ship is sold to Princess, the court can be first in line to divert a payment to the injured individual. It's much like a home foreclosure due to unpaid HOA dues: the HOA does a foreclosure, then sells the home. Upon sale, the mortgage is settled, the HOA gets their back dues, and the former owner gets all remaining equity. Extremely "inconvenient" to the former owner, but by no means does the former owner simply "lose their house". (They lose plenty in the fees and timing of the sale, and could be in a real pickle of the equity is upside-down, but...) Link to comment Share on other sites More sharing options...
Grego Posted March 31, 2014 #8 Share Posted March 31, 2014 Looks like no one here knows for sure how or if this really impacts Princess. Has there not been any mention of this on any Princess memos? Link to comment Share on other sites More sharing options...
Carolyn R Posted March 31, 2014 #9 Share Posted March 31, 2014 Ah ha! So that is why the Regal was in dry dock for over a month for a job that should only have taken about a week. The sea trials were to have taken place the middle of March and are now three weeks behind schedule. I hope they can get everything completed in time. We don't even know who the godmother or even the captain will be yet. Strange. Link to comment Share on other sites More sharing options...
bermudiana Posted March 31, 2014 #10 Share Posted March 31, 2014 Ah ha! So that is why the Regal was in dry dock for over a month for a job that should only have taken about a week. The sea trials were to have taken place the middle of March and are now three weeks behind schedule. I hope they can get everything completed in time. We don't even know who the godmother or even the captain will be yet. Strange. Carolyn, I received an email a few weeks back that the Captain is to be Ed Perrin. :) Link to comment Share on other sites More sharing options...
Roses2 Posted March 31, 2014 #11 Share Posted March 31, 2014 The financial machinations involved in a cruise company building a ship are far more complicated than one might imagine. The Regal Princess cost is estimated to be $750 million (That is three-quarters of a billion dollars). Generally the cruise line management (Carnival Corporation) floats a loan to cover the cost of the construction of the ship and contracts with the ship builder, in this case, Fincantieri shipyard. In most cases the company would pay agreed amounts at certain bench marks during the construction and make final payment after acceptance of the completed ship following inspections and sea trials. When the ship has been delivered Carnival Corporation probably will have paid Fincantiieri an estimated $750 million. The corporation "bean counters" project the revenue of the new ship based on the forecast occupancy and spending patterns using the first revenue day. Should the Regal not be delivered on time, those "bean counters" would be mighty upset. Link to comment Share on other sites More sharing options...
Cruisin' Chick Posted March 31, 2014 #12 Share Posted March 31, 2014 Wasn't there some situation that involved Carnival a few years ago when a judge ordered one of the ships not to sail (it wasn't a ship that hadn't sailed yet, IIRC) because of some charges someone made against Carnival? Link to comment Share on other sites More sharing options...
Loonbeam Posted March 31, 2014 #13 Share Posted March 31, 2014 I think it was after the Splendor fire, a US judge put a lien on one of the ships in TX, was resolved before scheduled sail. Wasn't there some situation that involved Carnival a few years ago when a judge ordered one of the ships not to sail (it wasn't a ship that hadn't sailed yet' date=' IIRC) because of some charges someone made against Carnival?[/quote'] Link to comment Share on other sites More sharing options...
A1A Posted March 31, 2014 #14 Share Posted March 31, 2014 I know it may not make a huge difference in the conversation, but according to the article posted by the OP, the injuries occurred in 2002, some fourteen years ago. Ken Link to comment Share on other sites More sharing options...
Carolyn R Posted March 31, 2014 #15 Share Posted March 31, 2014 Carolyn, I received an email a few weeks back that the Captain is to be Ed Perrin. :) Now how did I miss that? Thanks for the info. I did hear that Ron Goodman was to be the CD. Link to comment Share on other sites More sharing options...
bermudiana Posted March 31, 2014 #16 Share Posted March 31, 2014 Ah ha! So that is why the Regal was in dry dock for over a month for a job that should only have taken about a week. The sea trials were to have taken place the middle of March and are now three weeks behind schedule. I hope they can get everything completed in time. We don't even know who the godmother or even the captain will be yet. Strange. Now how did I miss that? Thanks for the info. I did hear that Ron Goodman was to be the CD. You're welcome and yes I heard about Ron as well, although no official from him yet. BTW...where in VT do you live if you don't mind my asking? My son just moved from Burlington down the road to Essex. Elaine Link to comment Share on other sites More sharing options...
Colo Cruiser Posted March 31, 2014 #17 Share Posted March 31, 2014 I know it may not make a huge difference in the conversation, but according to the article posted by the OP, the injuries occurred in 2002, some fourteen years ago.Ken Thats pretty new in the wheels of justice system that turn forever slowly. Link to comment Share on other sites More sharing options...
dmwnc1959 Posted April 1, 2014 #18 Share Posted April 1, 2014 Please note another thread here by DMWNC1959 "Countdown to Regal Princess" has been following the progress and completion of the ship as she gets ready to sail in May has asked a curious question in a recent thread - "With less than two months until her Maiden Voyage I'm still surprised we have heard literally nothing, or seen more updates, from Princess Cruises or the shipyard." Perhaps now we have a better understanding now why this is the case of relatively no news per se. Interesting thread and great discussion. Thanks for bringing this to our attention. Although I can see why Princess Cruises may be mum about this event due to legal technicalities, the lack of 'new news' reminds me of a funny TV commercial I saw this weekend... the second kid doesn't get as much fanfare as the first. ;) Being as Regal Princess is a near duplicate of Royal Princess, there's less to introduce us to that hasn't already been covered during the first 'baby'. :D Link to comment Share on other sites More sharing options...
likeadisguise Posted April 1, 2014 #19 Share Posted April 1, 2014 Now how did I miss that? Thanks for the info. I did hear that Ron Goodman was to be the CD. They announced the senior officers in July: http://www.princess.com/news/press_releases/2013/07/Senior-Officers-Announced-for-Regal-Princess.html Link to comment Share on other sites More sharing options...
Colo Cruiser Posted April 1, 2014 #20 Share Posted April 1, 2014 I missed that one. Link to comment Share on other sites More sharing options...
skf Posted April 1, 2014 #21 Share Posted April 1, 2014 But doesn't the ship yard have other assets (like bank accouts, real property) that could have "holds" put on them? That is what probably would have happened in the U.S. Not necessarily...Our first cruise line, Regency, had one of its ships seized in 1996 by US Marshals. They owed their caterer hundreds of thousands of dollars. Link to comment Share on other sites More sharing options...
Colo Cruiser Posted April 1, 2014 #22 Share Posted April 1, 2014 But doesn't the ship yard have other assets (like bank accouts, real property) that could have "holds" put on them? That is what probably would have happened in the U.S. Not necessarily...Our first cruise line, Regency, had one of its ships seized in 1996 by US Marshals. They owed their caterer hundreds of thousands of dollars. Actually in the US they would go after the ships as well. Link to comment Share on other sites More sharing options...
Carolyn R Posted April 1, 2014 #23 Share Posted April 1, 2014 You're welcome and yes I heard about Ron as well, although no official from him yet. BTW...where in VT do you live if you don't mind my asking? My son just moved from Burlington down the road to Essex. Elaine I live in Stowe, but my son and his family live in Burlington. Link to comment Share on other sites More sharing options...
Cruisin' Chick Posted April 1, 2014 #24 Share Posted April 1, 2014 I think it was after the Splendor fire, a US judge put a lien on one of the ships in TX, was resolved before scheduled sail. The Texas part sounds familiar, just couldn't remember the rest of it. Link to comment Share on other sites More sharing options...
swedish weave Posted April 1, 2014 #25 Share Posted April 1, 2014 (edited) But doesn't the ship yard have other assets (like bank accouts, real property) that could have "holds" put on them? That is what probably would have happened in the U.S. Not necessarily...Our first cruise line, Regency, had one of its ships seized in 1996 by US Marshals. They owed their caterer hundreds of thousands of dollars. It was much worse than that. Regency had all their ships seized and went out of business. We were on one that got the side torn out in the Panama canal. They patched the hole at Crystobal and we headed straight for Florida where that ship was seized. The crew had to find their way home, and some passengers who had booked TransAtlantic were stranded in Florida. Our TA arranged to get us back to Calif even though we had missed our flight by a full day. Here is the link to the story about the Carnival Triumph that was seized in Texas. It was the result of a lawsuit filed by the family of a German tourist who was killed on the Costa Concordia. http://www.bloomberg.com/news/2012-03-31/texas-judge-orders-cruise-ship-seizure-in-costa-concordia-suit.html Edited April 1, 2014 by swedish weave Link to comment Share on other sites More sharing options...
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