Mid-America Catastrophe Services

Transocean Defends $1 Billion Insurance Tower in Gulf Spill Litigation

 Tuesday, March 29, 2011

 Risk and Insurance

In mid-March 2011, Transocean and its operating subsidiaries petitioned in federal court to intervene on behalf of its underwriters, Ranger and a Lloyd’s syndicate, against BP, Anadarko, and Moex, as the oil producers sought to recover damages from the tragic Macondo blowout and oil spill last year. The same day, on March 16, Moex, a subsidiary of the big Japanese trading and investment house Mitsui, filed a complaint against Transocean in support of BP and Anadarko.
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