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3516B Caterpillar News

11 Jun 2014

Defective Marine Engine Leads to US$46-Million Legal Settlement

A week before the start of a scheduled three week jury trial, the law firm of Cunningham Bounds, LLC apprises it obtained a $46,000,000 settlement for its clients, Bender Shipbuilding and Repair Company, Inc. and an international ship operator, in a product liability lawsuit filed against Caterpillar, Inc. for an explosion and fire caused by a defective engine onboard the M/V Sherman, a ship that was under construction at the time. In October 2005, Bender Shipbuilding entered into a contract with the ship operator for the construction of a series of state-of-the-art vessels, including the M/V Sherman. The contract price for the M/V Sherman was almost $27 million.

13 Feb 2003

Aussie Rules Designed to LR’s Rules

The recent delivery of the luxury motor yacht Aussie Rules, built by the Austal Group company Oceanfast, a Western Australian custom motor yacht builder, marks the conclusion to an innovative project which Lloyd’s Register has been involved in for the past two years. The vessel is owned by Greg Norman, the Australian two-time winner of the British Open golf tournament, who also serves as the inspiration for Oceanfast’s series of Norman Expedition Yachts of which Aussie Rules is the first. The yachts represent an innovative hybridization between the commercial exploration vessel and the traditional luxury yacht and combine the ability to undertake both traditional cruises and more specialized expeditions, including diving and access to remote locations.