Transocean (RIG) will file in federal court a petition to limit its liability in the Gulf spill...

|About: Transocean Ltd. (RIG)|By:, SA News Editor

Transocean (RIG) will file in federal court a petition to limit its liability in the Gulf spill to just under $27M. The owner and operator of the Deepwater Horizon drilling rig is filing the request under a century-and-a-half-old law originally aimed at helping U.S. ship owners compete with foreign-flagged vessels.