Petition Requests Court to Place a Stay On All Litigation Filed Against Transocean

Transocean, Ltd. announced today that it has filed a petition in the U.S. District Court for the Southern District of Texas in Houston to limit its liability for losses incurred in the Deepwater Horizon oil rig explosion. 

More than 100 lawsuits have been filed against Transocean, BP and Halliburton in multiple states and courts. Today’s petition is made under the Limitation of Shipowner’s Liability Act of 1851 and it asks the court to limit Transocean’s liability for the accident to the current value of the Deepwater Horizon oil rig, $26,764,083.

The petition also requests that the court place a stay on all litigation filed against Transocean in any jurisdiction other than the Southern District of Texas.  The company hopes to consolidate the lawsuits that have been filed against Transocean and bring them into federal court in Houston where they will be tried by a single judge and paid from a single fund.

This action could cause delays for families who are seeking Jones Act compensation for the loss or injury of their loved ones.

The company says this action is necessary to protect the interests of its employees and shareholders.  Transocean, Ltd. is the world’s largest offshore drilling contractor and the leading provider of drilling management services.  The company is worth over $23 billion.