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Transocean prepares for lawsuits

When Steven Newman took over as chief executive of Transocean…he could have had no idea how challenging the role would be…Nine of the 11 crew members who died when the…drilling rig exploded in the Gulf of Mexico on April 20 were Transocean employees. The rig…was also owned by the company. But Mr Newman has not been under the same glaring spotlight as…BP, for whom the Swiss-based Transocean was working at the time of the accident. That is because the law states that BP is responsible for the cost and clean-up of the spilled oil...Transocean says it is not willing to speculate what went wrong…Behind the scenes the company’s lawyers are preparing to deal with a barrage of lawsuits…[also refers to Cameron International, Halliburton]

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