Well, providing the laws are the same here in America...
You are personally liable for only a certain amount if the card was fraudulently used. I would image that it would be the amount specified. In many cases, though, the Credit Card company won't even make you pay that.
Make sure you cancel the card and get a new one with different numbers. Also consider how the thief got the credit card information to begin with, and decide if you think any other credit cards you own are comprimised. If so, call up the companies and order replacements. Make sure that your credit remains undamaged, as it may well be worth your time to pay the minium payment and just chalk it up as a loss than spend the obsene amount of time and the potential hassle of getting it fixed later.
Hope that helps
