The London Steam-Ship Owners’ Mutual Insurance Association (The London Club) is urgently looking for clarification from the Spanish judicial system having yesterday been whacked with a $1bn bill over the 2002 Prestige oil spill.
A court in La Coruña has said that the P&I Club must pay the huge sum as part of a multi-billion dollar damages settlement.
The court awarded Spain $1.9bn in damages for the oil spill while also granting $2.1bn in compensation to the region of Galicia and $72m to France.
“The London Club remain concerned at the direction that the Spanish Court has taken generally, including in respect of the international CLC Convention. The London Club look forward to clarification of and the opportunity to study the findings in more detail before making further comment,” a spokesperson for the British insurer said.
The Prestige tanker was one of the most high profile sinkings in Europe in recent years, splitting in two off the coast of northern Spain and polluting thousands of kilometres of coastline with a 60,000 ton spill.
Mare Shipping, the ship’s owner and the International Oil Pollution Compensation Funds, have also been hit with massive penalties as has the ship’s Greek captain, who controversially was given a two-year jail term in 2016 for his role in the disaster.