BRIEF-Nissan says likely it will not be able to be reimbursed for past, future recalls after Takata bankruptcy filing
* Nissan Motor Co says likely it will not be able to be reimbursed for past, future recalls after Takata Corp bankruptcy filing
Feb 26 Exxon Mobil Corp has won the reversal by Maryland's highest court of a $1 billion punitive damages award stemming from an underground leak at a gas station, and also won the reversal of portions of nearly $650 million of compensatory damages awards.
The Maryland Court of Appeals said Exxon's "shortcomings" in remediation efforts did not rise to the level of fraud, removing the basis for the punitive damages award.
The case arose from the leak of about 26,000 gallons of gasoline from beneath a fueling station in Jacksonville, Maryland.
Exxon reported the leak on Feb. 17, 2006, but the leak had its origins five weeks earlier from a drilling puncture caused unknowingly by a contractor, the Court of Appeals said.
Several hundred residents and businesses sued Exxon, alleging damages from contamination of their water supply and a variety of misrepresentations by the oil company.
TOKYO, June 26 Asian shares edged up on Monday on optimism about global growth, while the dollar was on the defensive as a subdued U.S. inflation outlook capped U.S. bond yields and raised questions about the Federal Reserve's plans to tighten policy.