Transocean to appeal court's insurance ruling over Gulf spill

03/4/2013 |

Transocean will appeal a federal court's decision that allowed BP to access the offshore rig contractor's insurance policies providing for at least $750 million in coverage to help pay for damages related to the 2010 Gulf of Mexico oil spill. "We are disappointed in the decision, and our counsel will be considering our options going forward," said Steve Newman, Transocean's president and CEO.

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