Coast Guard Right To Deny Oil Spill Funds: 5th Circ.

Law360, New York (November 23, 2011, 7:25 PM EST) -- The Fifth Circuit on Tuesday upheld the U.S. Coast Guard's refusal to pay out $8.1 million from an federal oil spill liability trust to a company involved in a 27,000-gallon spill in a Texas river in 2004, ruling that the Coast Guard had not acted capriciously in denying the funds.

The companies involved in the spill, which resulted from a collision between a barge and a much larger tanker ship, tried to make it so the owner of the barge, Buffalo Marine Service Inc., would be...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.