€1.57 Billion to Spain and France in Compensation for Prestige Oil Spill

The 1976 tanker Prestige, which broke up and sank after she was refused entry to a harbour of refuge in November 2002, resulted in one of the worst environmental disasters in European history, polluting nearly 2,000 miles of French, Spanish and Portuguese coastline and wildlife, and adversely affecting the fishing industry.

It’s been a long saga, but today the Spanish Supreme Court upheld a decision handed down by the Provincial Court of A Coruña in November 2017 which requires The London P&I Club and the Prestige‘s Captain Apostolos Ioannis Mangouras to pay nearly €1.6 billion in damages to the Spanish government.

France is also set to receive €65 million and Xunta de Galicia €1.8 million.

2 thoughts on “€1.57 Billion to Spain and France in Compensation for Prestige Oil Spill

  1. Naeem Shahzad

    Luckily France is entitled to receive €65 million and Xunta de Galicia €1.8 million. It is a great news for both stakeholders. According to a number of surveys,it is informed that international economy drives by some major commodities alike gold, oil and gas etc. Oil and Gass industry consistently face complete, time utilizing and documentation of the projects. Even before it, the industry is relying on virtual data rooms to facilitate all these understandings of the business and digestion of complex processes.
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    Like

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