Recovery Limited Partnership v. The Wrecked and Abandoned Vessell, S.S. Central America, et al.

Justia Dockets & Filings Fourth Circuit Virginia Eastern District Recovery Limited Partnership v. The Wrecked and Abandoned Vessell, S.S. Central America, et al.

Recovery Limited Partnership v. The Wrecked and Abandoned Vessell, S.S. Central America, et al.

Case Number:	2:1987cv00363
Filed:	May 27, 1987
Court:	US District Court for the Eastern District of Virginia
Office:	Norfolk Office
Presiding Judge:	Rebecca Beach Smith
Nature of Suit:	Contract: Marine
Cause of Action:	28 U.S.C. § 1333 Admiralty
Jury Demanded By:	None

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Date Filed	Document Text
August 31, 2016	Filing 229 OPINION entered and filed 8/31/16: This matter comes before the court on the Motion for Salvage Award ("Motion") and accompanying Memorandum in Support, filed by the Plaintiff, Recovery Limited Partnership ("RLP"), on Ja nuary 29, 2016. ECF Nos. 206 , 207 . For the reasons set forth in this Opinion, the court hereby GRANTS RLP a salvage award in the amount of ONE HUNDRED PERCENT (100%) of the fair market value of the items recovered in the 2014 recovery operations. The court DENIES prejudgment interest. Further, the court FINDS that "the proceeds of any [judicial] sale would clearly be inadequate to pay the salvor its full reward" in this case. R.M.S. Titanic, Inc., 286 F.3d at 20 4. The court further FINDS that the amount of RLP's salvage award can only be satisfied by the court conveying title to the artifacts. Accordingly, the court GRANTS RLP title to the artifacts recovered in the 2014 salvage operation s, as outlined. An Index of this Opinion is attached for reference purposes and made a part hereof. (See Opinion and Footnotes for Specifics) (Signed by Chief District Judge Rebecca Beach Smith on 8/31/16). Copies provided as directed 8/31/16.(ecav, )
August 11, 2015	Filing 192 ORDER Denying 139 Motion for Award of Title by Recovery Limited Partnership. Since the court determines that the admiralty law of salvage, not the common law of finds, applies to the Central America wreck, RLP's Motion is DENIED. Signed by Chief District Judge Rebecca Beach Smith on 8/10/15 and filed 8/11/15. Copies distributed to counsel for RLP 8/11/15. (ldab, )

Date Filed

Document Text

August 31, 2016

Filing 229 OPINION entered and filed 8/31/16: This matter comes before the court on the Motion for Salvage Award ("Motion") and accompanying Memorandum in Support, filed by the Plaintiff, Recovery Limited Partnership ("RLP"), on Ja nuary 29, 2016. ECF Nos. 206 , 207 . For the reasons set forth in this Opinion, the court hereby GRANTS RLP a salvage award in the amount of ONE HUNDRED PERCENT (100%) of the fair market value of the items recovered in the 2014 recovery operations. The court DENIES prejudgment interest. Further, the court FINDS that "the proceeds of any [judicial] sale would clearly be inadequate to pay the salvor its full reward" in this case. R.M.S. Titanic, Inc., 286 F.3d at 20 4. The court further FINDS that the amount of RLP's salvage award can only be satisfied by the court conveying title to the artifacts. Accordingly, the court GRANTS RLP title to the artifacts recovered in the 2014 salvage operation s, as outlined. An Index of this Opinion is attached for reference purposes and made a part hereof. (See Opinion and Footnotes for Specifics) (Signed by Chief District Judge Rebecca Beach Smith on 8/31/16). Copies provided as directed 8/31/16.(ecav, )

August 11, 2015

Filing 192 ORDER Denying 139 Motion for Award of Title by Recovery Limited Partnership. Since the court determines that the admiralty law of salvage, not the common law of finds, applies to the Central America wreck, RLP's Motion is DENIED. Signed by Chief District Judge Rebecca Beach Smith on 8/10/15 and filed 8/11/15. Copies distributed to counsel for RLP 8/11/15. (ldab, )

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