Maritime law my butt! Transocean needs to explain this in open court as to why they want to limit their liability to value of the vessel when underwriters have reportedly paid them $410mm for the rig. Who is pulling whose leg here?
Maritime law is still the court system. Maritime law is one of the oldest laws in fact. Very complex and interesting really (not that I am an attorney or understand it all that well)
I know that they only have a limited amount of time to file the limitations action from when a claim is made against them. i thinks its 30 days or so. That why they are doing it now. i thought it was supposed to consistant with the value of the rig and cargo, or at least their share of it. Not sure on the 27 in stead of 410. If they suceed, Congress will re-write the law.
http://www.alertnet.org/thenews/newsdesk/N09134192.htm
I haven’t heard Rush, but i did see where Reuters is showing the initial estimates for the leak to be coming from the Coast Guard who used an underwater camera. That is a silly point anyway. If they reported 70k up front, what would change? Complain about the lack of fail safes or something relevant.
Lets face it, nobody really knows how much is actually leaking. Everybody who hates oil still drives a car, and Al Gore just bought a 9 million dollar non-green house in LA. Lets close our eyes and say “do as I say, not as I do”.
If the crew members had been killed in an auto accident, their families would have received 100/300 liability limits or whatever the guilty party had for liability coverage. There would be no attorney fees because there would not be any money left over. If the limit is 27 million the 19 families would still get a million apiece after 9 million in attorney fees. Clean up costs would be extra.
I agree that the platform explosion should have been prevented if at all possible. However, I also know that nothing or no one is perfect. See Al in paragraph 1. I know that it is a heck of a mess and it will have to be cleaned up.
Everyone is an expert at looking back in time and telling you what should have been done. We call that “Monday Morning Quarterbacking”. Lets all close our eyes and say “Yes, we can”.
Most of the claims for damages are going to be fraudulent, (except from the workers killed or maimed, they will be covered by workers comp-but you all know that) as far as clean up damages go, most of that is fraud too, nuture (or doing absolutely nothing aside from capping the leak) will do most of the clean up work and most of the clean up work will probably make the mess worse and prolong it, (all those dirty booms and rubber gloves and boots will eventually get dumped into a landfill instead of allowed to degrade naturally.
The oil companies for the most part will give the lawyers the finger, interanational maritime and treaty law will rule over most claims-as it should.
The $410M paid by the underwriters was for the actual physical damage to the rig itself.
The $27M they are seeking to have limited is for their liability to the accident regarding claims made by third parties for wrongful death, cost of clean up, and damages to business in the Gulf.
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1,000 barrels a day… then it’s 5,000 barrels a day… now it’s 70,000.
Let’s all close our eyes and listen to Rush tell us that the oil is as natural as the ocean itself.
Maritime law my butt! Transocean needs to explain this in open court as to why they want to limit their liability to value of the vessel when underwriters have reportedly paid them $410mm for the rig. Who is pulling whose leg here?
Maritime law is still the court system. Maritime law is one of the oldest laws in fact. Very complex and interesting really (not that I am an attorney or understand it all that well)
I know that they only have a limited amount of time to file the limitations action from when a claim is made against them. i thinks its 30 days or so. That why they are doing it now. i thought it was supposed to consistant with the value of the rig and cargo, or at least their share of it. Not sure on the 27 in stead of 410. If they suceed, Congress will re-write the law.
Yes, Rush. It’s the gift that keeps on giving.
http://www.alertnet.org/thenews/newsdesk/N09134192.htm
I haven’t heard Rush, but i did see where Reuters is showing the initial estimates for the leak to be coming from the Coast Guard who used an underwater camera. That is a silly point anyway. If they reported 70k up front, what would change? Complain about the lack of fail safes or something relevant.
Lets face it, nobody really knows how much is actually leaking. Everybody who hates oil still drives a car, and Al Gore just bought a 9 million dollar non-green house in LA. Lets close our eyes and say “do as I say, not as I do”.
If the crew members had been killed in an auto accident, their families would have received 100/300 liability limits or whatever the guilty party had for liability coverage. There would be no attorney fees because there would not be any money left over. If the limit is 27 million the 19 families would still get a million apiece after 9 million in attorney fees. Clean up costs would be extra.
I agree that the platform explosion should have been prevented if at all possible. However, I also know that nothing or no one is perfect. See Al in paragraph 1. I know that it is a heck of a mess and it will have to be cleaned up.
Everyone is an expert at looking back in time and telling you what should have been done. We call that “Monday Morning Quarterbacking”. Lets all close our eyes and say “Yes, we can”.
actually it was insured for over 700 million.
Most of the claims for damages are going to be fraudulent, (except from the workers killed or maimed, they will be covered by workers comp-but you all know that) as far as clean up damages go, most of that is fraud too, nuture (or doing absolutely nothing aside from capping the leak) will do most of the clean up work and most of the clean up work will probably make the mess worse and prolong it, (all those dirty booms and rubber gloves and boots will eventually get dumped into a landfill instead of allowed to degrade naturally.
The oil companies for the most part will give the lawyers the finger, interanational maritime and treaty law will rule over most claims-as it should.
The $410M paid by the underwriters was for the actual physical damage to the rig itself.
The $27M they are seeking to have limited is for their liability to the accident regarding claims made by third parties for wrongful death, cost of clean up, and damages to business in the Gulf.