The Last Chance Of Freedom : BP must cover some Transocean oil spill damages

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Friday, January 27, 2012

BP must cover some Transocean oil spill damages

By Jonathan Stempel

(Reuters) - A federal judge on Thursday said BP Plc must indemnify Transocean Ltd for some compensatory damage claims over the 2010 Gulf of Mexico oil spill.

U.S. District Judge Carl Barbier, who oversees multistate litigation over the spill, agreed with Transocean that the Swiss driller was not responsible for compensatory damage claims raised by third parties for oil spilled below the ocean surface.

He also ruled, however, that London-based BP need not indemnify Transocean for punitive damages, or civil penalties imposed by the U.S. government under the federal Clean Water Act.

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Friday, January 27, 2012

BP must cover some Transocean oil spill damages

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