The Mauritius Commercial Bank (MCB) won the case it had been fighting against the Mauritius Union Assurance (MUA). The verdict was spelled out on the 28th of November 2014 by Judge Abdoorafeek Hamuth. The MUA now has to deliver a sum of money amounting to Rs 48.8 million to the MCB.
It all began on the 11th February of 2005, when an MCB branch was subject to a hold-up. Rs 51.8 millions was thus lost to the robbers, and the bank manager, Gerald Lagesse, lost his life at their hands. Later on, the police managed to obtain Rs 3 million back from the criminals. Since the bank was insured by the MUA under a policy relating to an amount of Rs 48 800 000, it requested the same from the insurance company. However, the latter refused to pay. This finally triggered the court procedures.
The MUA argued that one of the conditions of the policy was that it was not entitled to compensating the MCB if the reinsurers do not pay the latter. However, the MCB brought forth witnesses to prove its claim: Clifford Allet, Bernard Clément Sooben, Joseph Clency Beeharry, Jean Aimé Sylvain Vencatasamy and Michel Prosper. The Judge thereafter assessed the situation and found that the documents and evidence presented were in the favour of the bank’s request.