Transocean wants to limit liability payments to fraction of its own insurance payout

[Hannah Bell]

Transocean, the owner of the Deepwater Horizon oil rig, filed a petition May 13 to limit its liabilities in the disaster to $27 million, despite receiving $560 million in insurance compensation.

As part of the request, Transocean will be allowed to consolidate all cases against it into federal court, and to put a stay on the over 100 cases being brought against it at the state and local levels. Eleven workers—most employed by Transocean—were killed in the April 20 blast, and at least 17 more were injured. Workers who escaped from the rig have claimed that the horrific event they witnessed caused them post-traumatic stress syndrome.

Regardless of whether Transocean is successful in limiting its liabilities, it stands to gain advantages from moving the cases to federal court, several of those familiar with maritime law told the World Socialist Web Site.

“Transocean will get to fight the case once, and they get control of the agenda,” said Martin J. Davies, a professor of maritime law at Tulane University. “They are trying to put a lid on the proceedings, just like BP is trying to do.”

http://www.wsws.org/articles/2010/may2010/deep-m18.shtml

[Angry Dragon]

1. The feds need to step in and take the $560 million

and tell them it is a start but not enough.

So the plan is to have a disaster and make money off of it?? These people are just slime balls of the first degree.

[aquart]

2. Well, well, the plan has always worked, hasn't it?

WALL STREET????

[Angry Dragon]

3. You are right

i was not thinking of that but it fits the pattern. Slime all over the place.

[notadmblnd]

4. That's what it is starting to look like

No, they should not be allowed to make money of this disaster. Yes, the government should place a lien against all company assets until this is resolved and paid for.

[ixion]

6. Yep, disaster capitalism in action...

disgusting, ain't it? :puke:

[Angry Dragon]

5. I was just thinking about the dead workers

The companies need to be tried for murder. They want to be treated like people for certain things so they should be treated as people for all things.
Reckless and carelessness equals manslaughter. Found guilty the company gets sold. execs serve time and pay personal fines and they pay for the cleanup. Companies need to be held accountable for their crimes or this will never stop.

[Scuba]

7. Indictments. Seizure of assets. Nothing less.

[KharmaTrain]

8. Also Distancing Themselves From BP...

The 60 Minutes report the other night is damning...for BP. It appears to be BP's "hurry up" attitude that led to most the shortcuts being taken, but TransOcean is not off the hook as it appears they were aware of the troubles with the shutoff valve and still let BP call the shots.

Of course they're going to try to limit liability and make it as difficult for anyone to collect from them. If it's not delaying any trial, it'll be appeals or some other stunt...and, yes, they can play more games on a federal level than state. However, if they are guilty, they will eventually pay. It may be to the grandchildren of those killed on the rig, but restitution will happen. In the meantime, I'm hoping all these companies that hold liability in this disaster are forced to spend millions each year of their profits on a cadre of laywers and the PR from this catastrophe will finally kick enough people in the ass that our government, and people overall, finally get serious about getting off this oil addiction.

Cheers...

[Hannah Bell]

9. not if the plans for complete corporate takeover of world government stay on schedule,

they won't have to pay.

we'll all be in hock to the banksters, working our 14 hours/d, & going to charter schools for jesus.