Friday, May 6, 2011

British Petrolem Litigation; When it Rains, It Pours!

As mediation continues, states sue, Transocean files a Limitation of Liability Act case and more....All of a sudden the number of filed cases in Federal Court have mushroomed from 350 cases to 70,000. Yes, 70,000 you heard correctly. A lot of the filings were completed to beat an April 20th, 2011 deadline triggered by Transocean's filing.
The matter has turned into a "suing orgy"; Everybody is suing everybody, cross-claims and counterclaims are flying, British Petroleum has brought about $100 billion in claims as a plaintiff too, not to mention declaratory judgment actions and the like.
Florida intends to proceed under the Oil Pollution Act.....What a mess! No pun intended.....

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