May 17, 2013
BP (NYSE:BP) expected to pay dearly for the destruction it caused in the Gulf of Mexico in 2010, yet the oil giant is not handing over the money without objection as the amount soars several billion dollars more. After losing its fight over the administration of settlement funds, BP is maneuvering to have a different Louisiana court take up the matter while a surge in claims starts arriving before the 2014 deadline.
Amid rumors BP has asked Britain’s PM David Cameron to intervene, the company’s lawyers are staying busy in New Orleans. Judge Carl Barbier, who is hearing a civil suit case against BP while he continues to oversee settlement litigation, appears to be growing weary of the company’s tactics, questioning the reason for “all these machinations” as appeals wind around courts in the area.
[Wall St.~Cheat Sheet]
[Wall St.~Cheat Sheet]
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