NU Online News Service
Transocean Ltd. has filed a petition under the federal Limitation of Shipowner's Liability Act of 1851 to limit its liability for the Deepwater Horizon oil rig explosion to less than $26.8 million.
Transocean, which owns the rig, filed the petition in the U.S. District Court for the Southern District of Texas in Houston, under the federal Limitation of the Shipowner's Liability Act.
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