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Court extends indemnity in the BP-Transocean Drilling Contract to include Transocean’s “gross negligence,” but excludes indemnity for civil penalties and punitive damages.

On January 26, 2012, the Court entered its finding(s) 1) That BP is required to indemnify Transocean for compensatory damages asserted by third parties against Transocean related to pollution that did not originate on or above the surface of the water, even if the claim is the result of Transocean’s strict liability (including OPA and […]

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