Owners not Protected from Government Changing Rules

Thursday, August 19, 2004
The U.S. Court of Appeals for the Federal Circuit has reminded us that owners are not protected against adverse impacts when government changes the rules. In the instant case, a fishing vessel owner possessed a federal permit to catch fish in the U.S. Exclusive Economic Zone (EEZ). Congress then amended the law and the National Marine Fisheries Service was unable to renew the permit, making the fishing vessel unprofitable. The owner sued, alleging an unconstitutional taking of his right to the permit. The court held that, by reason of the government’s high degree of control over commercial dealings, the owner must be aware of the possibility that new regulations may adversely impact the value of the property. (HK Law)

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Yilport Acquires Sweden's Gavle Terminal

Turkish terminal operator Yilport Holding has gained full control of Gävle’s terminals.   Yilport Holding acquired 100% shares of Gävle Container Terminal (GCT) and Baltic Sea Gateway (BSG).

ICS Pushing For Balanced Update of York Antwerp Rules

At the Comité Maritime International (CMI) Conference, in New York this week, the International Chamber of Shipping (ICS) will be pressing to ensure that the proposed

OMB - Subchapter M Cleared for Publication

The Office of Management and Budget (OMB) completed its review of the draft final rule entitled Inspection of Towing Vessels, also known as "Subchapter M." The

Navy

This Day In Naval History: May 5

1943 - USS Permit (SS 178), USS Snook (SS 279) and USS Sawfish (SS 276) damage two Japanese ships and sink two freighters and a gunboat.   1944 - The hospital ship,

SharpEye Radar Installed and Commissioned on SAS Drakensberg

Kelvin Hughes, a company in the design and supply of navigation and security surveillance systems, has announced the installation and commissioning of a SharpEye

Arabian Shipping at Risk of Al Qaeda Attack

Al Qaeda's Yemen branch remains a powerful force and poses a growing risk to merchant ships in vital waterways nearby despite efforts by Yemeni government forces

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Pipelines Port Authority Salvage Ship Electronics Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0547 sec (18 req/sec)