ABS Welcomes Prestige Ruling

French Court Rejects Prestige Claims against ABS

May 19, 2008

(Houston, TX---) An attempt by two unions of French oyster producers (Le Syndicat Conchylicole de la Rive Gauge de la Charente and Le Syndicat Conchylicole de Marennes Oleron) as well as the union for the defense of the maritime world (Le Syndicat pour l”Assainissement du Monde Maritime) to recover up to Euro10m in damages from parties involved in the loss of the tanker Prestige in 2002, including ABS and the Government of Spain, has been dismissed by the Rochefort High Court (Tribunal de Grande Instance de Rochefort) in France.

Although the oyster beds suffered no physical damage, the producers sued for compensation for claimed damage to their business and reputation. In a jurisdictional ruling, the Court found that the claimants lacked standing and that the writs were time barred as they were filed more than three years after the alleged damage occurred.

The Court ordered the plaintiffs to contribute towards the costs incurred by ABS, and the other parties, in defending themselves against the warrantless claim.

Founded in 1862, ABS is a leading international classification society devoted to promoting the security of life, property and the marine environment through the development and verification of standards for the design, construction and operational maintenance of marine-related facilities.

ABS Press Release