Investing

BP And Anadarko Face Huge Spill Liabilities

A judge has decided that both BP and Anadarko can be sued from damages from the Deepwater Horizon spill under the Clean Water Act, and Oil Pollution Act. The decision opens them to civil suits which could be brought by the US government. The decision has been a long time coming and expected in some circles.

BP set up a separate $20 billion clean up fund which is also supposed to pay out settlements for businesses and companies damaged by the spill. Many of those who feel they are supposed to get payments have not. Others want courts to give them more than what the fund has offered. So, the federal legal exposure can be added to private ones.

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Reuters

BP Plc and Anadarko Petroleum Corp are liable for civil damages under federal pollution laws over the 2010 Gulf of Mexico oil spill, a U.S. judge ruled, exposing them to billions of dollars in potential fines.

Wednesday’s decision by U.S. District Judge Carl Barbier in New Orleans allows the U.S. government to pursue civil penalties at a trial he is scheduled to oversee beginning on February 27.

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