Transocean Says BP Must Defend It Against Spill Claims

Law360, New York (August 5, 2010, 5:26 PM EDT) -- Transocean Ltd. claims that BP PLC has a contractual obligation to indemnify and defend against the rig owner's losses from liability claims related to the oil spill in the Gulf of Mexico.

Transocean, the owner of the Deepwater Horizon rig that ignited the oil spill, said in a filing with the U.S. Securities and Exchange Commission Wednesday that under a drilling contract, “the operator” of the rig agreed to assume full responsibility for liability claims.

BP has reserved its rights to indemnify Transocean, according to the...
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