The owners of the boats which made up most of Waterway Houseboats’ rental fleet will be receiving their portion of the settlement due after flooding in 2012 temporarily crippled the business and eventually contributed to its receivership. (File photo)

Owners of Waterway houseboats receive $5,000 each after court decision

The award follows a court case which found the province and Sicamous partially responsible for flood damage

The owners of the boats which made up the now-defunct Waterway Houseboats’ rental fleet are receiving a settlement to compensate them for the earnings lost due to the serious flood in 2012.

The flood severely damaged the Waterway property located on the shore of Mara Lake. An April 2019 court decision found the provincial government, the District of Sicamous and private landowners partially responsible for the flooding damage to Waterway’s property.

The houseboat company was awarded $2 million, but it proved to be insufficient to hold off its creditors and the company entered receivership and closed up shop in June 2019.

Read More: Waterway Houseboats wins $2 million for damages caused in 2012 flooding

Read More: Rescued Shuswap bear cub named after Snowbirds Capt. Jenn Casey

Also provided in the 2019 court decision was $333,353 in damages. That money will be going to the 63 boat owners now that the court has decided how to split it among them. According to a decision issued in a Kelowna courtroom on May 12, the houseboats themselves were not damaged but the flood’s consequences for the business led to a loss of earnings for the boat owners.

The judgment issued by Justice G.P. Weatherill states the amount to be awarded was established based on an assessment of the loss of earnings for the boat owners caused by the flooding. In late April 2020, Weatherill received a request from the lawyer representing 45 of the boat owners, asking that the money be awarded. According to the judgment, the 45 houseboat owners had been in discussion with defendants in the case and a settlement was reached, but couldn’t be finalized until the $333,353 was allocated to the boat owners.

Read More: Wearing non-medical masks now recommended in public: Canada’s top doctor

Read More: Six-storey 25-unit residential development proposed for Salmon Arm

According to the judgment, the request from the boat owners’ legal team suggested the money could be divided equally among the boat owners, or an expert allocation could take place using evidence from business valuators. Weatherill decided the money should be divided equally, making each boat owner’s share $5,323.06; expert allocation would have seen payments range from $2,632 to $9,267.73.

Weatherill’s decision was based on the fact that further submissions and analysis would be required for the expert allocation and even then the revenues earned by the boat owners if the flood had not happened can only be speculated as the business was unpredictable.



jim.elliot@saobserver.net

Like us on Facebook and follow us on Twitter

BankruptciesBoatingLocal BusinessSicamous

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

Penticton woman to ‘load up the cart’ with toys for local hospital

Pascale-Ann Demers launched a GoFundMe to upgrade the toy supply at Penticton Regional Hospital

Cannery Brewing’s patio expansion plans delayed by COVID-19

Once open, the new patio will look quite different than originally planned

Playgrounds to reopen across the Okanagan on June 1

After nearly two months closure, playgrounds are set to reopen

Long-time South Okanagan principal retires, another takes the helm

Jeff Redden will start as principal of Naramata Elementary School in August

100 miles in 24 hours: a B.C. man’s mission to support the less fortunate

Merritt’s Darius Sam felt he needed to help his community after an encounter with a struggling woman

Mission prison COVID-19 outbreak ends, 9 new cases in B.C.

New positive test at Port Coquitlam care home

Flood watch for Salmon River upgraded as high temperatures, rain forecast

Shuswap Emergency Program warns residents to prepare now for possible extreme flooding

Man who bound, murdered Vancouver Island teen still a risk to public: parole board

Kimberly Proctor’s killer is still ‘mismanaging emotions,’ has had ‘temper tantrums’

VIDEO: Humpback whales put on quite a show

The ‘playful’ pod lingered by a Campbell River tour operator’s boat for quite some time

RCMP request public’s help in locating missing Salmon Arm man

Ken Derkach is a familiar face to many, one of the city’s residents who is without a home

Booze on Kelowna beaches? Mayor says ‘not at the moment’

Mayor Colin Basran says alcohol in public spaces is not on council’s radar right now — but that could change

Getting hitched at historic B.C. gold rush town still on table during COVID-19 pandemic

Micro-weddings, online visits, offered at Barkerville Historic Town and Park

VIDEO: Police look for suspect seen tripping elderly woman in Burnaby

The elderly woman was walking near the SkyTrain station when she was randomly tripped

Drunk man on a dirt bike and prohibited drivers without insurance keep Shuswap RCMP busy

Other calls resulted in excessive speed tickets and the arrests of two prohibited drivers

Most Read