Transocean Defends $1 Billion Insurance Tower in Gulf Spill Litigation

Tuesday, March 29th, 2011 Catastrophe Liability

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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http://www.riskandinsurance.com/story.jsp?storyId=533334688&topic=Main

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