Exxon Valdez punitive damages to the Supreme Court which capped the damages to US $507.5 million in June, 2008. On August 27, 2008, Exxon Mobil agreed to pay 75% of the US $507.5 million damages ruling to settle the 1989 "Exxon Valdez" oil spill off Alaska. In June 2009, a federal ruling ordered Exxon to pay an additional US$480 million in interest on their delayed punitive damage awards. After repairs, "Exxon Valdez" was renamed "Exxon Mediterranean", then "SeaRiver Mediterranean" in the early 1990s, when Exxon transferred their shipping business to a new subsidiary company, River Maritime Inc. The name was later shortened
Exxon Valdez steel were removed and replaced that July, totaling US$30 million of repairs to the tanker. Its single-hull design remained unaltered. The Exxon Valdez spill occurred under President George H. W. Bush, whose EPA Administrator William K. Reilly played a significant role in mobilizing presidential support for action to contain and clean up the spill. Litigation was filed on behalf of 38,000 litigants. In 1994, a jury awarded plaintiffs US $287 million in compensatory damages and US $5 billion in punitive damages. Exxon appealed and the Ninth Circuit Court reduced the punitive damages to US $2.5 billion. Exxon then appealed the