The company that owns the now-sunken drilling rig oozing oil into the Gulf of Mexico is counting on a 150-year-old maritime law to limit its damages. Citing an 1851 law aimed at shipping mishaps, Transocean Ltd. said its damages should be limited to $26.7 million in unpaid drilling fees earned before the explosion, noting the Deepwater Horizon rig is otherwise worth nothing now.
Font Size: 
Transocean tries to cut its future oil-spill losses to $27M
The National Law Journal
May 13, 2010
This content is now available at LexisNexis®.
The ALM® and LexisNexis® Content Alliance
LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM’s legal news publications. LexisNexis® customers will be able to access and use ALM’s content by subscribing to the LexisNexis® services via lexis.com® and Nexis®. This includes content from The National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM’s other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.
ALM’s content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.
If you are not currently a LexisNexis subscriber, contact 1-800-227-4908 to find out more or click here to have a customer representative contact you directly.
