Ship Owners To Pay $2M Over Calif. Oil Spill

Law360, New York (March 3, 2008, 12:00 AM EST) -- The owner of the cargo ship involved in November's massive oil spill in San Francisco Bay is set to make a small dent in the millions of dollars of damages caused by the crash. It agreed on Sunday to pay over $2 million toward recouping the city's cleanup costs.

The $2 million payout will be made by Hudson Marine Management Services, which is acting on behalf of Regal Stone Ltd. of Hong Kong, the owner of the Cosco Busan container ship. The ship hit a tower...
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