Fair enough. Take him to court then he owes you big time.

Yeah I understand what u guys have been through totally, been jumped for my bike twice, and had one taken from an old garage. one time I had a metal bar whacked in my ribs. The first bike was uninsured... ever since I've been with the british cycling insurance.. and managed to claim on the 2nd theft with no complications. It costs a s**t load, but I know its likely that one day its going to pay off again. (especially with all the pikeys about) Works out about £30 per month direct debit.
I was out in the alps in august and we had 10 bikes in the cellar with loads of locks. but I doubt even the british cycling insurance would have covered a theft out there...