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Transocean Ltd. Message Board

  • cloneme8 cloneme8 Feb 24, 2012 11:58 PM Flag

    NO SETTLEMENT A GOOD THING?

    RIG may elect to do nothing, and let things proceed as all the conditions are in RIGS favor. Why settle for an arbitrary i feel bad number of say $500 million when you may only be held accountable for say $27 million the depreciated out of use value of rig. i believe the jones act or whatever it was limits the liability for rig to the value of sunken vessel. Remember this is maritime law. In any event, RIG not responsible for compensatory damages, nor pollution act and by my math not even the clean water act, only thing else left are very limited to some sub $30 million dollars in fines. No settlement but some good earnings coming!

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    • SYMBIOTIC relationship between RIG and Justice! Barbier has left it up to justice, if they would like to make the case for any additional fines against rig in court. Pretty sure RIG has already signed an agreement to cooperate with Justice and in return help justice build the case against BP. BP will either settle or take it's chance in court, whatever they do- it's becoming clearer everyday that RIG has hedged the outcome of this trial by activly cooperating with justice. Very small fine if any! AWSOME!

    • I tend to agree with you....

 
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