BP, Transocean Lawsuits Surge as Oil Spill Spreads in Gulf

[KeepItReal]

Source: Bloomberg

May 1 (Bloomberg) -- BP Plc and Transocean Ltd. face at least 36 lawsuits, including group cases with potentially thousands of plaintiffs, over environmental damage and personal injuries caused by the oil spill in the Gulf of Mexico.

At least 31 proposed class-action suits have been filed in courthouses from Texas to Florida. Commercial fishermen, shrimpers, charter-boat operators and beachfront-property owners asked to represent anyone whose livelihood depends on coastal waters imperiled by the drifting oil. At least 24 cases were filed yesterday.

“Under the Oil Pollution Act, the fact that it was BP’s oil is enough,” said Hall, of Stone Pigman Walther Wittmann LLC. Plaintiffs “don’t have to show they were negligent or grossly negligent,” he said.

Families of 11 of the 28 crew members killed or injured in the Deepwater Horizon explosion have sued companies including London-based BP and Geneva-based Transocean, the world’s largest offshore oil driller. Lawyers for two workers in a state-court lawsuit in Houston acquired a temporary restraining order requiring the companies to preserve evidence related to the explosion.

Read more: http://www.bloomberg.com/apps/news?pid=20601127&sid=ax4MXMZVVp6w

[BeFree]

1. Truth is...

...this oil slick is terrorizing millions of people.

[CountAllVotes]

2. this oil spill

will break BP. :hi: BP! We hardly knew ye! :hi:

:kick:

[Stuart G]

3. Good By BP..

Now are there any other companies that might buy up BP on the cheap??? just asking...

[Blue_Tires]

8. doubtful...like Exxon, BP has the resources and patience to tie up

any court case 10-15 years; to the point where the public stops caring...

[dipsydoodle]

4. Its an odd sort of blowback really

If the USA hadn't interfered in Persia back in 1953 then BP , previously Anglo Persian Oil Co , might not even exist now. What goes around comes around.

[dipsydoodle]

5. Btw

Contrary to something that posted yesterday BP have not carried external insurance for c. the past 15 years. However - their annual profits are c. £8 billion.

edit - i before e except after c. :)

[JustABozoOnThisBus]

6. Can BP pull off a GM- or KMart-style bankruptcy?

Declare bankruptcy, reorganize without the debt of this spill, and emerge from bankruptcy. It's a good way to pull off grand theft, without risk.

Bankruptcy can make everything peachy.

:hi:

[cascadiance]

7. I wonder if we should also follow through NOW on making Exxon pay for their damages too!

Exxon was let off the hook pretty heavily for Exxon Valdez spill, and I would like to think that our lack of follow through in making them pay fully for their part in that disaster won't be used by lawyers for BP as precedent to argue for heavy leniency in this case. If we go after BOTH Exxon and BP, then hopefully the message will be sent to the rest of the oil companies out there that we're not going to take any s**t from them anymore and that if they do more damage in the future, the government won't be "for sale" to let them off the hook any more!

Getting money from Exxon also might help with the big bills that inevitably still will fall upon us if BP can't be made to pay for all of the expenses (if they go bankrupt, etc.).

I think now will also be a good time to take advantage of public sentiment that won't accept politicians continuing to coddle Exxon either.