Transocean To Plead Guilty, Pay $1.4B Over Oil Spill

Law360, New York (January 3, 2013, 1:57 PM EST) -- Transocean Deepwater Inc. agreed Thursday that it will plead guilty to violating environmental law and pay $1.4 billion in criminal and civil penalties to resolve the U.S. government's claims stemming from the Deepwater Horizon oil spill.

The owner of the sunken rig will shell out $1 billion in civil Clean Water Act penalties and $400 million in criminal fines, and will plead guilty to a misdemeanor violation of the Clean Water Act, according to a consent decree and criminal information filed in Louisiana federal court....
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