A number of law firms have been selected to take part in helping compile evidence in the case against BP (NYSE:BP) over the Gulf oil spill, which estimates say could literally run into tens of millions of documents to pour over.
Also included in part of the evidence-gathering process will be compiling the depositions garnered by law firms.
So far approximately 100,000 civil lawsuits have already been filed in connection with the disaster.
At the gathering-evidence stage, the law firms participating will also make decisions on which companies would be held liable in specific circumstances for each case or group of cases.
I say group of cases because 300 have already been consolidated that have similar complaints made against BP in order to streamline the process.
If settlements in the cases aren't reached, a jury would make a decision on what percentage of liability each company holds, or if they have any liability in the first place.
Showing posts with label BP Lawyers. Show all posts
Showing posts with label BP Lawyers. Show all posts
Monday, October 18, 2010
Friday, October 1, 2010
BP (NYSE:BP) Wants Judge to Send Savings-Plan Cases to Texas
BP has asked a panel of judges to send worker lawsuits alleging mismanagement of their retirement savings plan to Texas court.
In court filings lawyers for the plaintiffs stated the lawsuits should stay in Chicago where seven out of eight of them were filed. BP wants them sent to Texas where investor claims related to the Gulf of Mexico have already been filed.
BP lawyer Daryl Libow responded saying, “The important thing to focus on here is the vast overlap in discovery.”
Filed as class actions, workers for BP North America claim they've lost over $1 billion because of the drop in share price of the oil giant. The cases were filed under the federal Employee Retirement Income Security Act. The retirement plan is administered in Chicago, although "Five of the seven members of the employee plan oversight committee are in Houston,” added Libow.
Lawyers for the plaintiffs said in July 9 court papers that “Defendants knew or should have known that investment in the BP stock fund was an imprudent investment for the participants due to BP’s longstanding and blatant disregard of safety reports, warnings, and recommendations necessary to prevent catastrophic disasters.”
In court filings lawyers for the plaintiffs stated the lawsuits should stay in Chicago where seven out of eight of them were filed. BP wants them sent to Texas where investor claims related to the Gulf of Mexico have already been filed.
BP lawyer Daryl Libow responded saying, “The important thing to focus on here is the vast overlap in discovery.”
Filed as class actions, workers for BP North America claim they've lost over $1 billion because of the drop in share price of the oil giant. The cases were filed under the federal Employee Retirement Income Security Act. The retirement plan is administered in Chicago, although "Five of the seven members of the employee plan oversight committee are in Houston,” added Libow.
Lawyers for the plaintiffs said in July 9 court papers that “Defendants knew or should have known that investment in the BP stock fund was an imprudent investment for the participants due to BP’s longstanding and blatant disregard of safety reports, warnings, and recommendations necessary to prevent catastrophic disasters.”
Wednesday, August 4, 2010
BP (NYSE:BP) Playing Dumb on Oil Spill Estimate and Spill Containment
BP (NYSE:BP) is playing dumb when it comes to the new oil spill estimate. Just a day ago the government increased their estimate of spilled oil to over 4 million barrels.
BP spokesman John Barnes said, "We don't have our own estimate of the flow rate or an assessment of this report." He stated that BP was not part of the federal scientific task force which came up with the estimate. He did say that the company had provided data to the task force. "It's important to know the amount of oil released, but we're not actual participants in that," continued Barnes.
Something is not adding up here, from the beginning of the oil spill BP has been low balling their estimates. Despite what scientists and the federal government have been insisting was the actual, much higher amount. Now BP's lawyers are being hush, hush and not giving any comment one way or the other. The amount of spilled oil is what will determine the amount the company's liability.
The federal clean water act will allow the government to impose the fine. The minimum of which, would be $1,100 per barrel of the toxic crude deposited into the Gulf of Mexico. The fine could go all the way up to $4,300 per barrel if the company is found to be negligent.
BP spokesman John Barnes said, "We don't have our own estimate of the flow rate or an assessment of this report." He stated that BP was not part of the federal scientific task force which came up with the estimate. He did say that the company had provided data to the task force. "It's important to know the amount of oil released, but we're not actual participants in that," continued Barnes.
Something is not adding up here, from the beginning of the oil spill BP has been low balling their estimates. Despite what scientists and the federal government have been insisting was the actual, much higher amount. Now BP's lawyers are being hush, hush and not giving any comment one way or the other. The amount of spilled oil is what will determine the amount the company's liability.
The federal clean water act will allow the government to impose the fine. The minimum of which, would be $1,100 per barrel of the toxic crude deposited into the Gulf of Mexico. The fine could go all the way up to $4,300 per barrel if the company is found to be negligent.
Subscribe to:
Posts (Atom)