[PDF] Economic Loss Claims Arising From Oil Pollution eBook
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This book focuses on liability and compensation for negligently caused pure economic loss as a general question in tort law and specifically as a question in maritime tort law, especially in cases of oil pollution damage. A substantial part of this study is dedicated to the examination of the legal status of pure economic loss caused by ship-source oil pollution incidents, the outer margins of recoverable losses as well as compensation practice, from both an international and a national perspective. The compensation practices of the IOPC Funds have been analysed carefully for this purpose.
The Rayong Oil Spill of 2013 presents a useful example of the catastrophic consequences of a large oil spill in Thailand, consequences that can provide meaningful lessons for industry and government. Many local residents and businesses throughout the coastal communities in Rayong suffered economic loss largely due to damages to natural resources; however, under the existing legal regime, there is no effective comprehensive legal framework that directly and adequately regulates the compensation regimes that handle claims of economic-loss following an oil-spill incident. Equally, as an alternative to litigation, there is no adequate guidance for the regimes handling rapid compensation payments for such type of claims. In the aftermath of the Rayong Spill, the responsible bodies developed the out-of-court compensation program on the fly, struggling to find a proper way to respond to this unprecedented disaster—yet this response was so haphazard that it left some claimants without clear rights to compensation, or, conceivably, it even left them with unfair levels of compensation. This study examines and evaluates the limits and potential advantages of the U.S. Oil Pollution Act 1990 and the systems used by the Gulf Coast Claims Facility in order to identify and adapt a new, comprehensive legal framework for setting up a claims facility to handle oil-spill compensation payments in Thailand. With the Thai context in mind and in light of the U.S. approach, this study recommends a framework that (1) includes a statutory duty to establish a claims facility for oil spill compensation; (2) identifies a responsible agency to designate the responsible party; and (3) explicitly recognizes economic losses caused by an oil-spill regardless of ownership rights. Given the problem of transparency in Thailand, this dissertation also recommends creating a neutral body to supervise the compensation regime. It also makes concrete suggestions for how to design these future claims facilities to better respond to economic losses caused by oil spill incidents, including a structure that entails different phases, how to improve accuracy in how we calculate losses, how to set up an appeals process, among other considerations. Overall, the approach this dissertation recommends represents an innovative middle path that strives to find a better balance between the goals of efficiency and fairness, and it could also serve as a possible model for reevaluating economic loss compensation regimes, in general, including other types of industrial pollution beyond oil spill compensation. Keywords: Oil Spill, Economic Loss, Interim Payments, Scientific Uncertainty, Future Loss, Mass Claims Resolutions, Peace Premium, Efficiency, Fairness, Oil and Gas Industry
United States. Congress. House. Committee on Public Works and Transportation. Subcommittee on Water Resources
Author : United States. Congress. House. Committee on Public Works and Transportation. Subcommittee on Water Resources Publisher : Page : 464 pages File Size : 28,93 MB Release : 1979 Category : Compensation (Law) ISBN :
This important new reference work analyses the special legal regime for oil pollution liability and compensation with regard to shipowners and cargo owners. it describes the system put in place by international Conventions and international voluntary agreements with particular regard To The IOPC Fund compensation policy. This work examines in detail how responsibility is divided between shipowners and oil companies and which claims for pollution damage are admissible within the framework of the Conventions. The operation and application of the Conventions is considered specifically in the light of the unilateral approach adopted by the United States based on an extensive study of legislation and caselaw.
The 2010 Deepwater Horizon (DH) incident produced the largest oil spill that has occurred in U.S. waters, releasing more than 200 million gallons into the Gulf of Mexico. BP has estimated the combined oil spill costs will be approx. $41 billion. The DH oil spill raised many issues for policymakers, incl. the ability of the existing oil spill liability and compensation framework to respond to a catastrophic spill. Contents of this report: (1) Intro.; (2) Existing Liability and Compensation Framework: Responsible Party; Liability Limits; Financial Responsibility; The Oil Spill Liability Trust Fund; Compensation or Claims Process; (3) Issues for Policymakers: Liability Limits; Per-Incident Cap; Level of Funding; Claims Process. This is a print on demand report.