Halliburton Complains that BP Oil Spill Settlement is Unfair
Halliburton recently announced that it thinks BP’s proposed settlement with victims of the 2010 Gulf of Mexico spill unfairly creates what it deems a “collusive alliance” against the company.
The company’s lead lawyer wrote that, “The settlement agreements will improperly align the interests of BP and the settling plaintiffs in any subsequent trial on liability in this court.” The court document says that the deal cut by BP creates an incentive for the plaintiffs who settled to change their strategy to minimize BP’s share of the liability and argue for additional compensation from other defendants in future suits.
As we all know, the debacle was started when more than 4.1 million barrels of crude spilled from BP’s well after the sinking of the Deepwater Horizon drilling rig, which was owned by Transocean Ltd., and received cementing services from a Halliburton unit. Currently, there are more than 500 lawsuits by various Gulf Coast residents and businesses that were affected by the devastating oil spill. These have been consolidated in a federal court in New Orleans to allow for a speedier resolution.
BP and a group of lawyers representing the victims reached a partial settlement
in March that would commit BP to pay an estimated $7.8 billion to resolve
most economic-damages claims. That deal is still awaiting approval by
U.S. District Judge Carl Barbier, who is overseeing the consolidated spill
The lead plaintiff’s attorney says that Halliburton’s recent complaint amounts to the company grasping at straws. They point out the federal court has already made clear that the company has no standing to object to the settlement. For their part, BP has agreed, saying that the suggestion that BP and plaintiffs have colluded against Halliburton is “preposterous.”
If you’ve been impacted by the BP oil spill, don’t hesitate to contact the Mississippi oil spill attorneys at Kobs & Philley at (601) 863-8170. Currently, we are accepting VOO claims, claims for Commercial Fisherman, claims for Recreational Fisherman, claims for Personal Lost Income and Business Lost Income, and claims for Owners of Waterfront Property. Call us today to ensure that you are not left behind and we will fight to get you the compensation you deserve!
Source: “Halliburton Says BP’s Deal With Spill Victims Is Unfair,” by Laurel Brubaker Calkins, published at Bloomberg.com.