Thu, Feb 22, 2007
Says Efforts Better Spent Elsewhere
After over three years of
litigation, Spacehab Inc. filed for a formal dismissal with
prejudice this week of all claims against NASA, relating to losses
incurred by the company as a result of the 2003 loss of the Space
Shuttle Columbia.
As Aero-News reported,
Spacehab initiated a formal contract claim against NASA in January
2004, seeking $87.7 million in damages for the loss of its Research
Double Module (RDM, shown at right) during the accident. In
October 2004, NASA responded to this claim with the determination
that its liability was $8.2 million, including interest, and paid
Spacehab this amount.
Spacehab subsequently filed an appeal with the Armed Services
Board of Contract Appeals and over the past two years, the two
parties have proceeded with preparations for a court hearing
planned for July 2008. The company also filed a tort claim in
November 2004, seeking damages of $79.7 million for the loss of the
RDM, to which the court granted a motion in June 2006 to stay the
case until resolution of the company's contract claim appeal.
Both sides were expected to meet in court in July 2008... but
Spacehab has since determined the potential benefits that may be
achieved by dismissing the claim against NASA -- its largest
customer -- outweigh any potential benefits that may be achieved by
continuing the litigation of claims against the agency.
"I believe that the dismissal of claims against NASA is in the
best interest of the Company and am very pleased with Spacehab's
pragmatic business decision in resolving this complex matter," said
Spacehab President and CEO Thomas B. Pickens, III. "Spacehab is
proud to press on in support of NASA and commercial customers
worldwide."
Pickens adds Spacehab intends to focus its limited resources on
current market opportunities and new business initiatives. Dropping
the lawsuit will also require the company to pay Lloyd's of London,
the insurer of the RDM, $500,000.
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