Maritime Accident News

Transocean moving to limit liability to $27 million

Transocean Ltd. filed a petition today to limit its legal liability to $27 million for the Deepwater Horizon disaster. The filing was made in U.S. District Court in Houston using a provision from a 19th century law that was intended to assist the American shipping industry in competing with foreign vessels. Though maritime attorneys say that it is unlikely that Transocean will prevail in this matter, the filing could give them some power over the legal process by prompting a judge to put a stay on all existing litigation and forcing claims to be re-filed in the federal court. Transocean owned the platform that exploded and killed 11 workers April 20 and led to the massive oil leak in the Gulf of Mexico.

Source: Wall Street Journal

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