The U.S. government reimbursed Frescati $88 million “and then they stepped into our shoes and sued for that $88 million,” Levy said.
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September 7, 2016
The Philadelphia Inquirer
Types : In the News
After 12 years, three trials, and 70 days of court testimony, a federal district judge in Philadelphia has ruled in favor of the Greek owners and operators of the oil tanker Athos I, which struck an anchor in the Delaware River in November 2004 as it nudged toward the Citgo refinery dock in Paulsboro.
Judge Joel H. Slomsky ordered Citgo Asphalt Refining Co. to pay Frescati Shipping Co., the ship owner, and Tsakos Shipping & Trading, the ship operator, $55.5 million plus $16 million in interest for a total of $71.5 million.
Frescati paid $143 million to clean up the spill, and was seeking about $55 million, plus more for damage to the ship, said John J. Levy, a lawyer from Montgomery McCracken Walker & Rhoads who represented the ship owners.