Transocean drops liability shield claim over Gulf spill

06/14/2010 | Wall Street Journal, The

Transocean conceded that it will be unable to limit its liability in connection with the Gulf of Mexico oil spill using the Limitation of Liability Act of 1851. The company now says federal and state authorities are empowered to pursue damages under laws such as the Clean Water Act and Clean Air Act. The company says the 1851 law does not protect against such claims.

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