A Bangkok court has ordered insurer Deves Insurance Plc to pay client Central Pattana Plc 3.7 billion baht in claims for damage caused by a fire at CentralWorld at the end of the red-shirt protest at Ratchaprasong, in downtown Bangkok, in May 2010.
In its notification to the Stock Exchange of Thailand on Friday, Central said the court of first instance had ruled on Friday in favour of CPN.
The court ordered Deves Insurance to pay compensation for property damage in the amount of 2.71 billion baht and compensation for loss of income in the amount of 989.8 million baht, with interest of 7.5% per annum from March 31, 2011, until such amount was fully paid by Deves Insurance, the notification said.
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