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Transocean can’t cap spill liability using old law, lawyers say

Transocean Ltd. can't use a 150-year-old statute to cap its liability against claims arising from the Gulf of Mexico oil spill, lawyers for victims of the disaster said at a hearing in federal court in Houston. The Oil Pollution Act of 1990, passed after the 1989 Exxon Valdez oil spill in Alaska, supersedes the older law ...

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