Talks between BP and the U.S. government over a settlement for the 2010 oil spill reportedly have stalled because the U.S. is insisting BP pay at least $18B. BP's board is said to be split over whether to pay $18B or continue to push for a settlement at $15B; a big worry is that giving in to the government will spark a wave of shareholder lawsuits. [View news story]
pre election ploy by the US administration - wanting to demonstrate a tough stance. This is likely to ease post election and US administration will want to settle not drag litigation.
Talks between BP and the U.S. government over a settlement for the 2010 oil spill reportedly have stalled because the U.S. is insisting BP pay at least $18B. BP's board is said to be split over whether to pay $18B or continue to push for a settlement at $15B; a big worry is that giving in to the government will spark a wave of shareholder lawsuits. [View news story]