'Villain' Transocean Unit Fined $2M For Legal Tactics

Law360, New York (May 18, 2010, 2:39 PM EDT) -- A bankruptcy court judge has slapped Transocean Ltd. subsidiary Global Santa Fe Corp. with approximately $1.5 million in sanctions for the “vexatious” litigation tactics it employed against Bass Enterprises Production Co. in efforts to avoid liability for more than $180 million in environmental liabilities in Louisiana.

Judge Kevin Gross of the U.S. Bankruptcy Court for the District of Delaware ruled Monday that GSF subsidiary Santa Fe Minerals Inc., which had assumed liabilities at the polluted site, did not file its 2006 petition for Chapter 11 bankruptcy...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.