Something that happened 15 years ago has come back to haunt The London P&I Club.
It has now been ruled how much Spain and its region of Galicia, as well as France, should receive in damages – and who’s footing the bill – for the monstrous spill brought about by the sinking of oil tanker Prestige in 2002.
Here are the numbers, as reported by
The Telegraph:
- Spain - to receive €1.6 billion ($1.9 billion)
- Galicia - to receive €1.8 billion
- France - to receive €61 million
- The London Steam-Ship Owners’ Mutual Insurance Association (also The London Club, The London P&I Club) - to pay up to $1 billion
- Ship captain Apostolos Mangouras - to pay the same amount as the insurer
- International Oil Pollution Compensation Funds and ship owner Mare Shipping - to pay the rest
Total damage cost for the environmental disaster was estimated at over €4 billion.
Meanwhile a report by
Digital Journal said damages were also awarded to over 260 other parties but the amounts have yet to be revealed.
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