Transocean Settles First Deepwater Death Lawsuit

By Houston Business Journal

Transocean Ltd. has settled the first of several lawsuits related to deaths from the Deepwater Horizon explosion, Bloomberg reported Thursday.

Transocean (NYSE: RIG) settled with the family of Karl Kleppinger Jr. of Natchez Miss., who was one of the 11 workers killed in the April 20 explosion.

The settlement amount was not disclosed.

⿿The Kleppingers have settled all of their claims arising out of the death of Karl Kleppinger Jr. against any current or possible defendants,⿝ Steve Gordon, the family⿿s lawyer, told the news agency.

The Deepwater Horizon rig was owned by Transocean, which is based in Switzerland but has its operational offices in Houston, and was under contract by BP Plc when the disaster took place.

Copyright 2011 American City Business Journals

http://www.bizjournals.com/houston/news/2011/01/13/transocean-settles-first-deepwater.html?ana=thestreet

Copyright bizjournals.com 2010

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