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Keyword: forcemajeure

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  • European Court: Railways Must Reimburse for Weather Delays

    09/26/2013 1:47:09 PM PDT · by Olog-hai · 16 replies
    Der Spiegel ^ | September 26, 2013 – 02:11 PM | (dsk—with wires)
    European railway companies must give partial refunds to passengers who are significantly delayed by bad weather, natural disasters or strikes after a ruling by the European Court of Justice (ECJ). The judgment is a blow for train firms who up until now only had to pay out if they were at fault. … The Luxembourg court ruled on Thursday that the rules exempting train companies in cases of force majeure, i.e. where the problems are out of their control, “relate only to the right of passengers to receive compensation for damage or loss resulting from the delay or cancellation of...
  • Superstorm Sandy Flooded Gold Vault in Manhattan

    11/27/2012 2:22:31 PM PST · by Attention Surplus Disorder · 20 replies
    CNBC ^ | 11/27/2012 | Lori Spechler
    When Super Storm Sandy flooded lower Manhattan, it also flooded the vaults of at least one gold depository. REUTERS/Siphiwe Sibeko Monday, the CME declared force majeure at a precious metals depository in New York, Manfra, Tordella and Brookes ("MTB") effective immediately. This depository is one of five locations listed by the CME for the warehousing of physical gold.
  • Libya Declares Force Majeure On Oil Exports Of 1.5 Million Barrels A Day

    02/22/2011 9:27:57 AM PST · by Nobel_1 · 80 replies
    Zero Hedge ^ | 2/22/2011 | Zero Hedge
    Reuters reports that Libya has just declared force majeure on its oil exports. As a reminder, Libya exports (under non-force majerue conditions) about 1.5 million barrels per day. That's a lot of barrels, especially for Italy which relies on 425,000 barrels a day from Libya to keep its economy going. According to 2009 official trade data as reported to the Global Trade Atlas, the vast majority of Libyan oil exports are sold to European countries like Italy (425,000 bbl/d), Germany (178,000 bbl/d), France (133,000 bbl/d), and Spain (115,000).
  • Exchange Delivery Committee Meets to Address Concerns About Natural Gas Futures Contract

    08/29/2005 10:55:11 AM PDT · by snowsislander · 263+ views
    NYMEX website ^ | August 29, 2005
    The delivery committee of the New York Mercantile Exchange, Inc., convened this morning to review deliveries in progress related to the NYMEX Division natural gas futures contract for August 2005. Based upon the shutdown and force majeure declaration by the Sabine Pipeline, which operates the Henry Hub facility in Louisiana, all remaining delivery obligations in the August contract month are operating under force majeure considerations subject to NYMEX rule 220.18. The committee is currently in contact with Sabine regarding handling of any outstanding delivery obligations as expressly prescribed in NYMEX rule 220.18, section (C)(6). All market participants with any outstanding...
  • Tsunami victims file lawsuit

    03/05/2005 6:18:51 PM PST · by kennedy · 59 replies · 6,511+ views ^ | May 5, 2005 | Staff
    SEVERAL dozen European victims of Asia's tsunami disaster have filed a lawsuit demanding that Thai authorities, US forecasters, and a French hotel chain prove that they reacted adequately. In what is believed to be the first tsunami claim worldwide, US lawyer Edward Fagan and two other lawyers have filed the suit with a New York district court on behalf of more than 60 plaintiffs from Austria, France, Germany, the Netherlands and Switzerland. The suit was filed against the Thai government, the US National Oceanic and Atmospheric Administration (NOAA) and its Tsunami Warning Centre, and the French hotel group Sofitel, said...
  • Victims Sue Thailand, U.S., Accor Over Tsunami

    03/07/2005 7:00:52 AM PST · by The_Victor · 57 replies · 2,027+ views
    Yahoo (Reuters) ^ | March 7, 2005
    VIENNA (Reuters) - U.S. and Austrian lawyers have filed a lawsuit demanding Thailand, U.S. forecasters and the French Accor group answer accusations they failed in a duty to warn populations hit by December's Tsunami disaster, a lawyer said Monday.   The lawsuit was filed Friday at a New York district court on behalf of tsunami victims by lawyers including U.S. attorney Edward Fagan, internationally renowned for 1990s lawsuits against Swiss banks over Holocaust-era accounts. It demanded an account of their actions on Dec. 26. "We expect a hearing within 30 days," Austrian lawyer Gerhard Podovsovnik told Reuters. "We don't...