Gupta, JPMorgan, Madoff, Stanford, Carnival in Court News

Carnival Sued in Miami Over Fatal Costa Concordia Shipwreck Carnival Corp., the world’s largest cruise line owner, was sued in Miami over the Jan. 13 wreck of the Costa Concordia off the coast of Italy. The complaint, which names six plaintiffs, four Americans and two Italians, was filed Jan. 27 in state court in Miami, said attorney Marc J. Bern, who provided Bloomberg with a copy. The filing couldn’t be independently confirmed with the court. Read More 

Costa Concordia Wreck May Take as Long as 10 Months to Remove

Jan 30 (Bloomberg) — The wreck of the cruise liner Costa Concordia will take as long as 10 months to remove as bad weather halted an operation to unload fuel from the vessel, said the civil protection agency. CarnivalCorp.’s Costa Concordia, which hit rocks and capsized on Jan. 13 just hours after leaving port near Rome with 4,200 passengers, is carrying 500,000 gallons of fuel. Oil removal operations may take at least 28 days, Coast Guard Admiral Ilarione Dell’Anna said on Jan. 23.  Read More

Carnival Details Short-Term Costs of Cruise-Ship Crash

Wall Street Journal
Miami-based Carnival said in a regulatory filing it expects the loss of the use of the Costa Concordia to reduce its net income by $85 million to $95 million in the fiscal year ending Nov. 30, 2012. It estimated insurance deductiles will cost it another $40 million, in addition to $30 million to $40 million in “other incident related costs” from the accident.

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