P&I insurer The London Club has said it is "disappointed" by Thursday's ruling in Spain that the country is owed at least EUR 1.5bn ($1.7bn) in compensation for the Prestige oil spill in 2002.
The Spanish supreme court held the Club and the tanker's captain Apostolos Mangouras liable for the damage caused by the vessel's sinking.
"The direction that the Spanish legal system has chosen has been disquieting to many parties for some time, and therefore, although frustrating, this comes as no surprise," it said.
"However, some comfort can be taken from the prior decision of the UK court in 2015 that the claims are not enforceable against the Club beyond the CLC limit (in relation to which the amount was paid into court in Spain shortly after the casualty)."
The widely criticised Spanish ruling does not recognise the right to limit liability under the 1992 Civil Liability Convention (CLC) to EUR 22.8m ($26.8m).
The Club also clarified that the Spanish judgement addressed the total amount of assessed losses, and did not revisit the Club’s $1bn policy limit, which remains applicable.
Anything above that amount will reportedly have to come from the owner, Mare Shipping, and the International Oil Pollution Compensation Funds (IOPC Funds).
"The Club will continue to work with all parties concerned in order to reach a fair and equitable solution," it added.
The 1976-built tanker broke in two and sank off Galicia while it was being towed away from the coast, spilling more than 50,000 tonnes of crude that reached beaches - the Iberian peninsula's worst environmental disaster.
