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

Legal

Reports: Brazilian Tycoon Batista Investigated For Financial Crimes

Brazils federal police have opened an investigation into former billionaire Eike Batista for financial crimes, including insider trading, manipulation of markets and money laundering,

Shell Commited To Russia Expansion Despite Sanctions

Royal Dutch Shell is committed to expansion in Russia, Chief Executive Ben van Beurden told Russian President Vladimir Putin at a meeting on Friday amid sanctions

Ex-BP Employee Settles Insider-trading Oil Spill Case

A former 20-year veteran of BP plc who oversaw the company's cleanup efforts from the Deepwater Horizon oil spill will pay more than $224,000 to settle civil charges

Navy

Keel-Laid for Navy's 10th LCS at Austal Yard

The Navy and Austal USA held a keel-laying ceremony for the future 'USS Gabrielle Giffords', the Navy's 10th littoral combat ship (LCS), in Mobile, Ala., informs

NATO to bolster defence of E.European Allies

NATO is sending part of its naval rapid reaction force to the Baltic Sea as part of a drive to step up the defence of eastern European allies in response to the crisis in Ukraine,

UN Seeks Sanctions Waiver to Ship Arms to Mali

The United Nations is seeking an exemption from a U.N. Security Council arms embargo on Ivory Coast so it can ship weapons and military equipment across the East

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Pipelines Port Authority Ship Simulators 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: 0.0809 sec (12 req/sec)