Ship Owners Strike $45M Deal Over Bay Bridge Spill

Law360, New York (September 19, 2011, 7:41 PM EDT) -- Federal, state and municipal officials on Monday announced a comprehensive $44.4 million civil settlement with the owners and operators of a ship that struck the San Francisco-Oakland Bay Bridge in November 2007, causing a massive oil spill and landing the ship's pilot in prison.

Regal Stone Ltd. and Fleet Management Ltd., the owners of the M/V Cosco Busan, will fork over the sum to resolve all environmental damages, penalties and response costs stemming from the incident, in which the South Korea-bound container ship hit a tower...
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