Lawsuits Fly Among Gulf Oil Spill Participants
Lawsuits Fly Among Gulf Oil Spill
Participants
BP Plc and its partners in the devastating oil spill in the Gulf of Mexico have taken to U.S. courts to battle over who is to blame for the tragedy that killed 11 workers and sparked the worst man-made environmental disaster in U.S. history. On the anniversary of the spill, BP filed lawsuits against Transocean Ltd. And Halliburton Co. totaling more than $80 billion. In a separate suit filed this week, BP also sued Houston-based Cameron International Corp., who manufactured the infamous blowout preventer that failed to shut down the the well before the disaster, as it was designed.
BP is seeking restitution of its full cost related to the disaster, which has been estimated at $42 billion, plus costs, punitive damages, and interest from each of the companies that participated in drilling the ill-fated well. BP's partners in the well, meanwhile, Mitsui in Japan and Anadarko Petroleum Corp., have filed a lawsuit against BP challenging its demands that they help pay for the clean-up. Wednesday, which was the one-year anniversary of the well explosion, was the deadline for the companies involved to file claims against each other.
Analysts speculate that none of the companies involved wanted to go to court over their differences, as prolonged legal battles could further tarnish the companies' already-batter images. The lawsuits are generally perceived as tactical moves designed to lead to settlements where the clean-up cost is shared. To date, BP alone has paid for the costly clean-up and funded compensatory damages payments to the Gulf-area natives affected by the disaster.
BP Plc and its partners in the devastating oil spill in the Gulf of Mexico have taken to U.S. courts to battle over who is to blame for the tragedy that killed 11 workers and sparked the worst man-made environmental disaster in U.S. history. On the anniversary of the spill, BP filed lawsuits against Transocean Ltd. And Halliburton Co. totaling more than $80 billion. In a separate suit filed this week, BP also sued Houston-based Cameron International Corp., who manufactured the infamous blowout preventer that failed to shut down the the well before the disaster, as it was designed.
BP is seeking restitution of its full cost related to the disaster, which has been estimated at $42 billion, plus costs, punitive damages, and interest from each of the companies that participated in drilling the ill-fated well. BP's partners in the well, meanwhile, Mitsui in Japan and Anadarko Petroleum Corp., have filed a lawsuit against BP challenging its demands that they help pay for the clean-up. Wednesday, which was the one-year anniversary of the well explosion, was the deadline for the companies involved to file claims against each other.
Analysts speculate that none of the companies involved wanted to go to court over their differences, as prolonged legal battles could further tarnish the companies' already-batter images. The lawsuits are generally perceived as tactical moves designed to lead to settlements where the clean-up cost is shared. To date, BP alone has paid for the costly clean-up and funded compensatory damages payments to the Gulf-area natives affected by the disaster.
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