BP Waives $75M Cap for Some Oil Spill Claims

By: Associated Press
By: Associated Press

New Orleans, LA (AP) - BP PLC has informed a federal judge that the
company is waiving a $75 million cap on its liability for certain
economic damage claims spawned by the massive Gulf oil spill.
A court filing Monday by BP lawyers says the company is waiving
the statutory limitation on liability under the 1990 Oil Pollution
Act even though it denies engaging in any gross negligence in
connection with the April 20 explosion on the Deepwater Horizon rig
and resulting spill.
Last Friday, U.S. District Judge Carl Barbier gave a BP lawyer a
week to state in writing whether the company will agree to waive
the cap. Plaintiffs lawyers had expressed concern that the company
was sending mixed signals on the cap.
Barbier is presiding over more than 300 consolidated lawsuits
over the rig blast and oil spill.

(Copyright 2010 by The Associated Press. All Rights Reserved.)


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