The apparent success of the leaseback deal may explain why Rush was able to attract Ocean Gate’s largest-ever investment in 2020. At the time, the company was undertaking the costly task of replacing the Ocean Gate. titanThe first hull to crack during testing. With $18 million in equity funding, Oceangate titan and move forward to the first thing titanic Around this time, documents indicate that Oceangate may have had more control in assuming ownership of Cyclops 2 LLC.
But by 2023, Oceangate’s financial footing looked even more shaky. Several witnesses at the Coast Guard hearing testified that they recognized Ocean Gate’s financial difficulties leading up to the finals. titanic Rush withheld his salary and sometimes loaned money to the company from his personal funds.
$250,000 demand titanic Diving seemed to be stagnant. As of May 2023, one of Ocean Gate’s affiliated retailers was advertising its summer expeditions as “very limited dates and spots still available at 40% off.” This has not been reported before.
If criminal charges are brought as a result of the federal investigation, they will proceed concurrently with civil litigation in federal court in Washington state. In that case, the celebrity’s family titanic Explorer Paul-Henri Narjolet seeks $50 million for death on board ship titanThe lawsuit names Ocean Gate, the Rush estate, and a number of other individuals and companies connected to the ill-fated submarine as defendants. Rush’s estate recently filed a motion to dismiss the suit, stating, “As Rush’s employer, Ocean Gate is responsible for Rush’s alleged negligence.”
Maritime lawyer Alton Hall is skeptical that Nargioret’s family will ever recover the nearly $50 million they seek. The Death at Sea Act, a 1920 law, generally limits damages to monetary losses, such as future earnings. One exception is the case of Nargioret and its allies. titan The passengers, whom Ocean Gate called “mission specialists,” qualified as seafarers under another law called the Jones Act. “There are literally tons of books written about who is a Jones Act sailor and who is not,” Hall says. Passengers who died on the plane titan “The Jones Act is not a sailor,” he believes.
Unknown questions in these cases and other cases that may be raised by the families of two billionaires who also died in the accident titan— who may face legal consequences. In the civil suit against Ocean Gate and Rush’s estate, Tony Nissen, Ocean Gate’s former engineering director; titanhull and viewport. However, multiple witnesses at the Coast Guard hearing said Stockton Rush had final say in many commercial, engineering and operational decisions and that his company was likely near bankruptcy. I testified. In the end, there may be little that can be salvaged from the wreckage of Ocean Gate.
(Tag translation) Marine science
