BP, Transocean Fight Over Who Keeps Blowout Preventer

Law360, New York (June 24, 2011, 5:04 PM EDT) -- BP PLC and Transocean Ltd. traded arguments in Louisiana on Thursday in their fight over who should hold onto the Deepwater Horizon blowout preventer until a liability trial over the massive oil spill begins in February.

Final testing on the device wrapped up on Wednesday, and a judge overseeing the multidistrict litigation in New Orleans asked BP, Transocean and several other companies for suggestions on who, if anyone, should take custody of it. Investigations of last year’s spill have shown that the device failed to stop...
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