No insurance payout for Hong Kong’s controversial Jumbo Floating Restaurant
The vessel reportedly capsized near the Paracel Islands in the South China Sea.
There will be no insurance payout for Hong Kong’s famous Jumbo Floating Restaurant after it reportedly capsized near the Paracel Islands in the South China Sea, according to its parent company.
In a statement, Aberdeen Restaurant Enterprises said that the vessel may be covered by a 'Protection and Indemnity Cover for Third Parties Liability' in accordance with maritime regulations, however, this insurance covers third party losses, not losses to the company.
The famous restaurant was initially towed out from Hong Kong last 21 June. It encountered ‘adverse conditions’ which caused it to capsize.
The restaurant was permanently shut down in March 2020 after a decade of financial woes
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