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In an unpublished decision, the US Court of Appeals for the Fifth Circuit ruled that an award of prejudgment interest is the rule rather than the exception in actions under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


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

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

Legal

Unipec: U.S. ANS Destined for Sinopec

Arbitrage opens after ANS discount widen on ample supplies. Unipec, the trading arm of top Asian refiner Sinopec, has bought two U.S. crude cargoes, including

G6 Updates Asia-North America West Coast Service

Two services will be merged into one until further notice / Reason is change in market demand / All other services remain unchanged. Members of the G6 Alliance

IRClass First to Certify Indian Recycling Yards per EU Standard

IRClass is amongst the first organizations in the world to certify ship recycling yards according to EU standards as an ‘Independent Verifier’. IRClass Systems and Solutions Pvt.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction
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: 0.0523 sec (19 req/sec)