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Talks between BP (BP) and states to settle the latter's claims over the Gulf oil spill are...

Talks between BP (BP) and states to settle the latter's claims over the Gulf oil spill are reportedly being made more difficult by the competing interests of the sates. At the opening of the civil trial yesterday, the Justice Department's Michael Underhill accused BP of "willful misconduct," which is an even higher standard than gross negligence and would leave BP open to fines of up to $17.6B. Underhill accused Haliburton (HAL) and Transocean (RIG) of gross negligence.
Comments (7)
  • TJ Schoenlein
    , contributor
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    What's next for BP - the " needle " or the " chair "?
    26 Feb 2013, 07:40 AM Reply Like
  • chopchop0
    , contributor
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    Probably neither. The US won't want to bankrupt the company. Obviously they need it to stay alive to keep those payments going
    26 Feb 2013, 08:42 AM Reply Like
  • Augie91
    , contributor
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    I feel for the people of the Gulf states, and definitely for those that died. However, what will be accomplished by crippling BP? It is my understanding that they have already paid more than any other company in history. I'd like to see an end to all of this so everybody can move on.
    26 Feb 2013, 08:43 AM Reply Like
  • The Geoffster
    , contributor
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    This is setting up better than Big Tobacco. The plaintiffs will try to squeeze BP until its a turnip. In the post credit collapse world, governments and their trial lawyer facilitators will fleece any source of wealth they can find. BP's actions have made it easy for them.
    26 Feb 2013, 08:48 AM Reply Like
  • watermark302
    , contributor
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    It's DoJ Showtime once again! Remember, this is the same group of barristers that tried to nail John Edwards. And now, they've raised the bar for themselves by charging - and attempting to prove - "willful misconduct"
    26 Feb 2013, 09:51 AM Reply Like
  • chriff
    , contributor
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    Didn't Transocean already settle for civil and criminal penalties, for $1.4 billion total? Are they still being sued or in some other way potentially liable for more fines?
    26 Feb 2013, 11:47 AM Reply Like
  • Old Texan
    , contributor
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    Out of curiousity where did all of the other money that has been paid gone to? I thought when you settled a lawsuit with all of the plaintiffs and then settled your criminal suit that it all ended. This looks like a feeding frenzy at the biggest government pig trough around. Probably as usual none of the folks who actually got damaged are going to get anything, however the lawyers and the governments are going to do well.
    26 Feb 2013, 12:25 PM Reply Like
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