Transocean's $1B Deepwater Civil Deal Wins Approval

Law360, New York (February 19, 2013, 5:46 PM EST) -- A federal judge on Tuesday approved a $1 billion civil settlement between Transocean Ltd. and the federal government to resolve the major environmental claims against the company in multidistrict litigation over the Deepwater Horizon oil spill.

“The court finds there is no just reason for delay,” U.S. District Judge Carl Barbier said in an order approving the deal.

Transocean owned and BP PLC operated the Deepwater Horizon offshore rig that drilled the Macondo well. A well blowout in April 2010 caused an explosion on the rig...
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