Transocean, DOJ Resolve Battle Over Liability Limitation

Law360, New York (June 11, 2010, 6:42 PM EDT) -- Several Transocean Ltd. units reached a deal with the federal government Friday to resolve its concerns over the company's efforts to limit its liability for the Deepwater Horizon explosion and oil spill to about $27 million.

An updated proposed injunction filed with the U.S. District Court for the Southern District of Texas would exclude a slew of environmental claims from the court's previous order requiring claims against several Transocean units to be filed as part of the company's declaratory action.

The new injunction, which still requires...
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