News, Culture & Society

Italian billionaire sues British firm over the loss of his £30m super yacht

Italian billionaire whose £30m superyacht sank after it fell off the back of a cargo freighter is suing the British transport firm for compensation

  • The £30m yacht My Song was lost from a cargo vessel in October 2019 
  • Owner Pier Luigi Laro Piana used Peters and May to transport his vessel 
  • Mr Piana is suing for the replacement cost of his carbon fibre super yacht
  • Peters and May claim a frame supplied with the yacht failed leading to its loss

The owner of a £30million super yacht is suing a British transport company for the loss of his vessel which fell off a cargo vessel and sank in a storm. 

Italian billionaire Pier Luigi Laro Piana commissioned Peters and May to transport his three-year-old yacht, My Song, between Antigua and Genoa. 

However, in May 2019, the yacht, which was being carried by the freighter Brattingsborg, was lost overboard in a storm around 40 miles from Menorca and sank. 

The enormous vessel's hull could still be seen above the water line

The huge yacht was was spotted half submerged and drifting 40 miles from Menorca

'My Song's' multi-millionaire owner Pier Luigi is an heir to the high end clothing company Loro Piana

‘My Song’s’ multi-millionaire owner Pier Luigi is an heir to the high end clothing company Loro Piana

Mr Piana has seen the case transferred from Italy to the Royal Courts of Justice in London. 

According to The Times, Mr Piana is suing the the firm for the replacement value of yacht. 

However, the Southampton-based Peters and May deny responsibility. 

According to court papers: ‘The primary assessment is that the yacht’s cradle – owned and provided by the yacht, warranted by the yacht for sea transport and assembled by the yacht’s crew – collapsed during the voyage.’ 

Mr Piana’s lawyers are seeking to have the case returned to an Italian court. 

He had previously told La Repubblica: ‘For anyone who loves the sea, this boat is like a second home, and it is as if my home has burnt down. 

‘We decided to transport it on a cargo ship to be sure it wasn’t damaged because you can never be sure of the weather.’  

The yacht was salvaged by a German firm but it was beyond economic repair as teh carbon fibre hull was holed in several places and the masts were broken off.  

Her owner had arranged for ‘My Song’ to take part in the 2019 Loro Piana Superyacht Regatta, where she was a returning winner.

Pier Luigi is an heir to the high end clothing company Loro Piana, which was founded in 1924 by his grandfather Pietro.

My Song is described as ‘a wolf in sheep’s clothing’ – she has a 56-metre-high mast and under full sail can reach more than 30 knots.

One yachting expert said: ‘It is a terribly sad end for the illustrious yacht that was the belle of the ball at the 2017 World Superyacht Awards picking up the trophy for Best Sailing Yacht of its size.

‘She was packed with cutting edge design and technology and also served as a comfortable cruising yacht.’

The yacht was being transported by the cargo ship Brattingsborg when it was caught up in the storm

The yacht was being transported by the cargo ship Brattingsborg when it was caught up in the storm

Read more at DailyMail.co.uk


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