Award of Prejudgment Interest

Thursday, November 13, 2008

In an unpublished decision, the US Court of Appeals for the Fifth Circuit ruled that an award of prejudgment interest is the rule rather than the exception in actions under general maritime law.

In the instant case, an anchor of one of defendant’s ships lodged in and damaged plaintiff’s offshore pipeline. When the parties could not agree on the amount of damages, plaintiff brought suit. Defendant appealed the damage award, particularly the assessment of prejudgment interest. The court held that there were no special circumstances in this case to deprive plaintiff of prejudgment interest.

Transcontinental Gas Pipe Line v. Societe D’Exploitation du Solitaire, No. 07-31073 (5th Cir., November 10, 2008).

(Source: Holland & Knight)

Maritime Reporter July 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

Wishful Thinking From Across the Pond

European Shipowners Pursue Softening of the Jones Act Just last month, the Secretary General of the European Community Shipowners’ Association (ECSA) opined that

Legislation Signed for Ports Upgrades

Today, Governor Brown signed AB 2395 Legislation. The bill was co-authored by Bonnie Lowenthal chair of the Assembly Transportation Committee and the Select Committee

Pariah Containership Banned from Australian Ports

The Australian Maritime Safety Authority (AMSA) informs that it has issued a direction to the container ship 'Vega Auriga' (IMO 9347786) that prohibits the ship

 
 
Maritime Careers / Shipboard Positions Maritime Security Naval Architecture Navigation Pipelines Port Authority Ship Electronics Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1148 sec (9 req/sec)