Offshore Driller Noble Makes Peace In $50M Wire Defect Suit

Law360, New York (May 24, 2012, 3:31 PM EDT) -- Noble Drilling Services Inc. settled on Thursday a $50 million wire defect suit alleging wire ropes made by Bridon-American Corp. and distributed by Certex USA Inc. snapped and damaged the company's oil rigs.

U.S. District Judge Kenneth M. Hoyt dismissed without prejudice a case stemming from damage caused by Hurricane Ike to drilling rigs Noble owns in the Gulf. Details of the settlement, which resolves all claims among all the parties, were not made public.

"There is really nothing to say other than that the parties...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.