Transocean May Use 19th Century Law To Lessen Personal Injury Compensation payouts
The families and dependents of the 11 oil rig workers killed and the 15 injured on the Deepwater Horizon drilling rig on April 20th may see the personal injury compensation paid to them reduced severely if Transocean are successful in using a law from the 19th Century.
The law in question is the 1851 Limitation of liability Act which was introduced to encourage investment in shipping and keep the US fleets competitive.
Under the Act, ship owner's liability is limited to the value of the ship plus the money the ship owner would collect if the voyage/trip was completed.