VaYank5150
Gold Member
Transocean tries to limit liability for sunken rig - U.S. business- msnbc.com
Wasn't Cali-G just telling everyone how these corporations have already admitted fault and were more than happy to pay for the damages in a separate thread???
A spokesman for the Swiss company said the company will cite an 1851 law that says the owner of a sunken vessel is liable only for its value after the accident.
The liability limit would cap the amount that Transocean would be forced to pay if it loses any of the numerous lawsuits related to the Deepwater Horizon explosion. The company also may be able to delay other proceedings for years while a judge determines the size of Transocean's liability, said Keith Hall, a New Orleans lawyer who represents oil and gas companies.
Wasn't Cali-G just telling everyone how these corporations have already admitted fault and were more than happy to pay for the damages in a separate thread???