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Re: Transocean seeking .7 MM liability limit
Posted by Jackstraw on 5/23/2010, 3:47 am
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Posted by Jackstraw on 5/23/2010, 3:47 am
| The "Law" was used successfully in the past...... Titanic..... " the law allows a ship owner to limit liability arising out of a marine casualty to "the value of the vessel and her pending freight". In the case of the Titanic, the owners alleged the loss was incurred "without the privity or knowledge of the vessel's owners". Going further, they argued that, even if they were at fault, their liability should be limited to the Titanic's post-catastrophe valuation. That figure totaled around $95,000, the value of the ship's surviving lifeboats and related equipment. Obviously, $95,000 was far less than claims brought by survivors and the families of those who perished." http://www.wunderground.com/blog/shoreacres/comment.html?entrynum=99 |
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Transocean seeking $26.7 MM liability limit - CypressTX, 5/14/2010, 5:55 pm
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