This dispute related to a cargo claim. It was heard in the Multi-Member Court of First Instance of Piraeus (judgment 281/2010) and the Piraeus Court of Appeal (judgment 387/2012). An appeal was filed against the latter decision and the 686/2015 decision of the Supreme Court was issued (see CMI336), which annulled the decision of the Piraeus Court of Appeal and referred the case for further trial by the same Court of Appeal, composed of judges other than those who had issued the appealed decision. Subsequently, judgment 89/2017 of the Three-Member Court of Appeal of Piraeus was issued. The appellant appealed to the Supreme Court again.

Held: Appeal dismissed.

Law 2107/1992 ratified the Hague Rules, as amended by the Protocols of 1968 and 1979 (the Hague-Visby Rules and SDR Protocol), and therefore the rules of the above Convention are, according to art 28(1) of the current Constitution 1975/1986/2001, an integral part of Greek domestic law, and prevail over any other contrary provision of law. These rules apply in Greece from 26 June 1993 to: a) all maritime transport covered by bills of lading where the ports of loading and discharge belong to different countries; and b) maritime transport between Greek ports whether a bill of lading has been issued or not (as extended by Law 2107/1992) (AP 376/2008). From the combination of the provisions of arts 3.1, 4.1, and 4.5.b of the above Convention, with art 4.5 having been replaced by art 2 of the Visby Protocol and art 4 bis having been added by art 3 of the same Protocol, it follows that the carrier is liable for loss or damage to the goods during the time of carriage, and that in the event of their loss or damage by sea carriage, any person having an interest in the cargo, ie the person affected by the loss or damage, is entitled to sue the carrier and claim compensation. Article 4.5.b provides that the 'total amount recoverable shall be calculated by reference to the value of such goods at the place and time at which the goods are discharged from the ship in accordance with the contract or should have been so discharged. The value of the goods shall be fixed according to the commodity exchange price, or, if there be no such price, according to the current market price, or, if there be no commodity exchange price or current market price, by reference to the normal value of goods of the same kind and quality.' (AP 928/2011). That is to say, the above provision determines the measure of calculation of compensation for damages arising from the loss or damage of the cargo.

Furthermore, it follows from arts 297(a) and 298 of the Civil Code and art 1 of Law 2842/2000 that any claim for compensation governed by Greek law, whether it results from breach of contract or tort or by law, must be specified in EUR, the currency to which the claimant is entitled to claim compensation, provided that it is expressly stated that the compensation is paid in cash. 'Money' within the meaning of the above provision means the national currency after the entry into force of Law 2842/2000, ie EUR, and this currency must not only be used to pay compensation, but also to measure the incurred damage, given that the liability for damages has a quantity in EUR. If, prior to the bringing of the action, the damage caused to the injured party measured in a foreign currency was remedied or a loss of profits occurred in a foreign currency, the amount of the damage or loss will be taken into account in determining the compensation. The amount of EUR which represents the loss must be calculated. To this end, the spent or lost amount in foreign currency will be converted into EUR based on the exchange rate at the time the money was spent or lost. This amount of foreign currency does not represent the damage, but only serves to determine it in EUR. This quantity in EUR definitively expresses the loss.

The above also applies in the case of insurance substitution. This is because the insurer substitutes for the claim of the insured and the beneficiary of the lost or damaged cargo against the carrier, the measure of which is calculated according to the above provisions. Compensation sought in Greece must be claimed in EUR, regardless of whether the insurer paid the insurance in a foreign currency (AP 972/1997).

As a consequence, the Court of Appeal correctly interpreted and applied the above provisions.