Oil Spill

BP Sues Three Contractors in Oil Spill, Seeks at Least $40B in Damages

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BP claims in lawsuits filed yesterday that three contractors are responsible for the costs of the Gulf oil spill that has cost the company $40 billion in estimated expenses.

The defendants are Halliburton Co., the company that designed the failed cement seal; Transocean Ltd., the oil rig owner; and Cameron International Corp., the maker of the safety device called a blowout preventer. The Wall Street Journal (sub. req.) has news of the Halliburton suit, while the Associated Press and the New York Times covered the legal action against the other companies.

BP has set aside $40.9 billion to pay estimated liabilities, but it could also face civil and criminal penalties that could cost tens of billions of dollars, the AP story says. A company spokesperson told the Wall Street Journal it hopes to recover the total cost of the spill.

Meanwhile, Transocean has filed court papers seeking judgments against BP, Cameron and Halliburton, AP reports.

Prior coverage:

ABAJournal.com: “DOJ Quietly Overhauls BP Oil Spill Probe”

ABAJournal.com: “Halliburton Cement Used in BP Well Failed Three Tests, Panel Leader Says”

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