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In an unpublished decision, the US Court of Appeals for the Fifth Circuit ruled that an award of prejudgment interest is the rule rather than the exception in actions under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 November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Legal

US Plans to Shut Royalty Loophole on Coal Exports

U.S. coal companies will no longer be able to settle royalties at low domestic prices when they make lucrative sales to Asia according to reforms proposed by the Interior Department on Friday.

Denmark Issues New Pilotage Regulations

In an effort to make the pilotage market more efficient, the Danish Maritime Authority (DMA) issued several new regulations following on amendments to the pilotage act.

US Shippers, West Coast Dockworkers Union Resume Contract Talks

Negotiators for shipping lines and terminal operators at 29 U.S. West Coast ports resumed contract talks with the union for dockworkers on Thursday, as cargo backups continued at the ports,

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Port Authority Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction 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: 0.1022 sec (10 req/sec)