| | |  Business News 
BP Tries to Limit Payouts
 The Age
go to original
August 02, 2010
Washington - BP will begin its legal offensive this month to cap its liabilities from the Gulf of Mexico disaster by offering those affected one-off compensation payouts in return for them waiving the right to sue.
US lawyers say tens of thousands of affected people in the Gulf, particularly those in the fishing and tourism industries, are weeks away from bankruptcy.
BP, which will try to seal the Macondo well permanently with a 'static kill' operation today, has committed to pay $US20 billion into a compensation fund in a series of instalments over the next 3½ years.
But privately the company believes it will not have to pay out anywhere near this sum. BP has so far paid $US261 million in claims.
|
|
| |
Vallarta Weddings
Tell a Friend
Site Map
Print this Page
Email Us