$1B Transocean Dividend Difficult To Block: Experts

Law360, New York (May 25, 2010, 11:44 AM EDT) -- Senators are calling on the U.S. Department of Justice to investigate driller Transocean Ltd.'s $1 billion dividend in the face of a crude oil disaster in the Gulf of Mexico for which it may bear liability. But Uncle Sam would have a tough time blocking the shareholder payday, legal experts say.

Eighteen Democratic senators penned a letter, dated Monday, asking Attorney General Eric Holder to launch a probe after Swiss-incorporated Transocean shareholders approved the windfall – the company's first in eight years – as the petroleum...
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