U.S. judge approves Transocean civil spill settlement
February 20, 2013 5:21 AM EST
A federal judge on Tuesday gave final approval to Transocean's $1 billion civil settlement related to BP Plc's
U.S. District Judge Carl Barbier signed the agreement, according to the court document filed in federal court in New Orleans.
Transocean, which employed nine of the 11 workers killed in the accident, reached a $1.4 billion agreement to settle criminal and civil charges with the U.S. government in January.
Last week, U.S. District Judge Jane Triche Milazzo accepted Transocean's guilty plea for violating the U.S. Clean Water Act along with a $400 million criminal fine for its role in the disaster at BP's Macondo well.
Transocean must still seek a settlement with the plaintiffs committee representing more than 100,000 individuals and business owners claiming economic and medical damages, so the ultimate cost of Macondo to Transocean could end up being higher.
BP is slated to go to trial in federal court in New Orleans on Monday on civil claims stemming from the spill.
(Reporting By Anna Driver; Editing by Brtnard Orr)
Most Popular Slideshows
- Reasons Why Michael Jordan Is Better Than LeBron James [PHOTOS And VIDEO]
- Dwyane Wade, Joe Johnson, Amare Stoudemire Among Worst Contracts In The NBA (Part 2 - Eastern Conference)
- Brawl-Marred Game in NFL Week 3: Philadelphia Eagles 37, Washington Redskins 34 [PHOTOS]
- NFL Monday Night Football Recap: Chicago Bears 27, New York Jets 19
Join the Conversation
- Tourre on stand says email in SEC case 'not accurate'
- Syrian authorities blocking access to needy in Homs - Red Cross
- Faith in European Union at low ebb, EU poll says
- Former UBS banker gets 18 months, $1 million fine, for muni bid-rigging scheme
- U.S. judge halts challenges to Detroit's bankruptcy bid
- Nexus 6, 8 Release Date is Halloween 2014 as Android L Intro Set for October 16
- New Samsung Galaxy Note 4 and Galaxy S5 Android 5.0 L Killer Features, Encryption and More
- Moto G 2014 v Asus Zenfone 5 – Specification Comparison Shows Zenfone 5 Is A Good Alternative for Moto G
- Android 5.0 L Nexus 4, Nexus 5, Nexus 7 Release in October, Google Employees Offer Hint
- U.S and Canada Fighter Jets Chase Out Russian Jets Near Alaska: Air Space Violation Not Confirmed
- Microsoft Doubles OneDrive Space To 30GB Due To iOS 8 Update Issues
- Nexus 8, Nexus 9 Release Date, Device Name And Price Conundrum: What To Expect?