Maritime Accidents Fact
If you or someone you know was affected by a maritime accident, an experienced attorney can help you decide the best action to take. Should your circumstances result in a claim, LawCapital can help you gain access to the capital you’ll need while waiting for settlement.
Admiralty and maritime law addresses situations that arise in the waters of the United States. An attorney will help you sort out the category your claim fits. For example, does your claim involve personal injury or property loss? Did your loss originate on a private or commercial vessel? Was the vessel operating in U.S. waters at the time of the loss? The answers to these questions help your attorney understand what laws apply to your claim.
Admiralty and maritime accidents may involve more than cruise ships and private boats. Losses also arise from maritime contract law, just as land-based transportation companies operate under contract when moving cargo from one location to another.
According to the Oregon State Marine Board, there were 13 fatalities within 60 reported boating accidents in 2008. The OSMB estimates that only 10-15% of reportable accidents are ever documented.
These accidents range from the highly publicized collision of a surfer and dory off the Oregon Coast near Tillamook in July 2008, which necessitated the reattachment of a 14-year-old boy’s left arm, to the more private carbon-monoxide poisoning of a family member swimming near an idling boat engine in July 2009. Investigation of such accidents is generally conducted by local authorities. Much like an automobile traffic stop, citations are issued and fault determined when a watercraft operator fails to observe safety guidelines, or is otherwise impaired while operating the boat.
Private boat owners are not always on the defensive, though. In April 2008, a class action lawsuit was filed against several major oil companies, claiming that ethanol added to gasoline dissolves the resin that binds fiberglass fibers together. Therefore, the gasoline caused damage to watercraft fuel tanks and potentially created an environmental hazard through increased fuel leaks.
Many people that are involved in maritime accident lawsuits eventually face financial hardships. Many can’t work and the legal process is long and drawn out. Some cases take many years to resolve. LawCapital specializes in the funding of settled and pre-settled maritime accident lawsuits. During the funding process, LawCapital requests some of the case documentation, underwriting evaluates the lawsuit to determine whether funding can be extended, and if approved, a contract is issued for the injured party and his/her attorney to sign. The injured party’s attorney then repays the lien when the case is resolved. All funding is non recourse, which means that if for any reason, there is no recovery on the case, then no money is owed back.