The bridge is basically valueless compared to everything else about the ship and cargo plus the lawsuits from various contract breaches and other damages. Port shutdowns, environmental cleanup, insurance losses. $100m is a rounding error.
It was worth $110M in 1977. Probably a couple $Billion now.
It's cost is both material and in the business of links from one side to the other. It's almost certainly worth multi billions at this point.
And not just the business from one side of the land to the other, but also from the port to… everywhere out in the ocean. With the old bridge remnants blocking ships, that’s a LOT of lost business…
It doesn't matter what the bridge is worth, the owners are only liable up to the value of the ship. They're protected by US and International law. The owners will be filing to limit their liability soon if they haven't done so already.
https://www.britannica.com/topic/maritime-law/Limitation-of-liability
Interesting.
This formula means, generally speaking, that the shipowner is entitled to limit his liability for the negligence of the master or crew, but not for his own personal negligence or that of his managerial personnel.
Does this mean, if the captain fucks up their liability is limited, but if the accident is caused due to systematic poor maintenance maybe not?
[IANAL]To a degree yes, this is why they love to find human error, it gets them covered by their insurance and limits the liability. Systemic issues that can be proven to come from the office would open them up. This is all before we get into shell companies and vessel charters .
They were on the phone with bankruptcy lawyers before dawn. That is the ones that didn't just disappear into hiding.
Can you get insurance for a ship?
Yes, there's rather shady business surrounding ship insurance, actually.
Is there anything in existence that isn’t a fucking scam ?
sourdough bread is pretty swell.
Sir I will insure your ship for just a $1000 premium. I only take payment in iTunes gift card.
Estimates I could find said $60-$120 million
I assume wrongful debt suits are gonna eclipse that tho
I think that's when it was built. A superstructure like a major port bridge will be well into the billions in 2024 money.
They'll declare bankruptcy before they fish the victims out of the water
1. Be civil
No trolling, bigotry or other insulting / annoying behaviour
2. No politics
This is non-politics community. For political memes please go to !politicalmemes@lemmy.world
3. No recent reposts
Check for reposts when posting a meme, you can only repost after 1 month
4. No bots
No bots without the express approval of the mods or the admins
5. No Spam/Ads
No advertisements or spam. This is an instance rule and the only way to live.
