Transocean Fined $400M As It Admits Deepwater Guilt

Law360, New York (February 14, 2013, 1:59 PM EST) -- Transocean Ltd. on Thursday pled guilty to violating the Clean Water Act and was slapped with $400 million in criminal penalties for contributing to the Deepwater Horizon oil spill after a Louisiana federal judge approved a deal reached between the offshore drilling company and the U.S. Department of Justice.

U.S. District Judge Jane Triche Milazzo signed off on the agreement, which is part of a $1.4 billion settlement Transocean and the government reached in January that included a $1 billion civil fine. It marks the second-highest...
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