5th Circuit revives Petrobras lawsuit over chain failure

Mar 9, 2016 

Reuters
 A U.S. appeals court has revived a lawsuit filed by the U.S. unit of Brazilian national oil company Petrobras claiming a faulty tether chain caused $400 million in damages when equipment it was meant to secure collapsed to the sea floor in the Gulf of Mexico in 2011.

Petrobras America and its insurance underwriters sued the manufacturer of the chain, Spain’s Vicinay Cadenas S.A., in federal court in Houston in 2012. The trial judge granted summary judgment to Vicinay in 2014 on the grounds that admiralty law governed the case and the claims were barred by the economic loss doctrine.

Leave a comment

Blog at WordPress.com.

Up ↑