Spain’s Supreme Court has ruled that the captain and the insurer of the Prestige oil tanker must pay more than 1.5 billion euros ($1.7 billion) in compensation for Spain’s biggest environmental disaster, when the vessel sank in 2002.
The court said in a statement Thursday that captain Apostolos Mangouras and The London Owners Mutual Insurance Association shall pay the damages to Spain, France and authorities in Spain’s Galicia region, as well as to another 269 companies, communities and individuals affected by the spill.
The tanker sprang a leak and sank off northwest Spain, polluting a long stretch of coastline and ruining the area’s rich fishing grounds.
Years of legal challenges slowed the compensation process.
Was this article valuable?
Here are more articles you may enjoy.
Five Reasons Why the US Escaped a Hurricane Landfall So Far This Year 
‘Clear Soft Market Conditions’ for Commercial P/C Lines in Q3, Says CIAB 
Lloyd’s Probing Conduct of Ex-CEO Who Had Been Set to Join AIG 
PwC: Insurance Execs Say Agentic AI Leading Industry Transformation 
