28-Jan-2012 - Transocean Not Liable for Some Gulf Spill Claims, Judge Rules

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Transocean had argued that BP, as the owner of the well, was responsible for all the costs of the blowout, which killed 11 workers and spilled nearly five million barrels of oil into the gulf. Judge Carl Barbier, the federal judge hearing the lawsuits relating wholesale nhl jerseys to the disaster, agreed in part, saying that Transocean’s contract with BP shielded it from compensatory claims. But the judge said that Transocean, the world’s largest offshore drilling contractor, would be subject to any pollution fines levied under the federal Clean Water Act, and its share of punitive damages, if any were assessed. Such costs could run into the billions of dollars. Transocean said the ruling supported its argument that BP should pay all claims from fishermen, hotel operators and other business owners who lost money because of the oil spill. BP has already paid nearly 8 billion to cover such damages. “This confirms that BP is responsible for all economic damages caused by the oil that Reebok NFL jerseys leaked from its Macondo well, and completely discredits BP’s ongoing attempts to evade both its contractual and financial obligations,” said Lou Colasuonno, a Transocean spokesman. “Transocean is pleased to see its position affirmed, consistent with the law and the long-established model for allocating risks in the offshore oil and gas industry.” BP, which has been in a bitter legal feud with Transocean and other contractors, said the judge had agreed that all parties bore a share of the costs. “Today’s ruling makes clear that contractors will be held accountable for their actions under the law,” BP said nfl trade jerseys in a statement. “Under the decision Transocean is, at a minimum, financially responsible for any punitive damages, fines and penalties flowing from its own conduct.” The companies are in negotiations with the government and other plaintiffs in advance of a trial, which is set to begin at the end of February.

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