As a matter of interest, BP has increased its total compensation fund for the oil spill disaster to $42.4 billion. The company also stated that the total cost of claims is likely to go higher due to the fact that “a significant number of business economic loss claims have been received but have not yet been processed, and further claims are likely to be received.”
BP initially set aside $20 billion for compensation claims following the explosion. Now the overall provision for the disaster was increased to $42.4 billion. When you consider all of the claims, including those as a result of the settlement referred to above, and the claims by the federal and state governments, I don’t believe the increased amount is adequate.
Source: The Guardian
Contact us today for a free legal consultation with an experienced attorney.
Fields marked *may be required for submission.
If you would like to subscribe to the Jere Beasley Report digital edition, simply visit our Subscriptions page and provide the necessary information or call us at 800-898-2034.
Attorney Advertising - Prior results do not guarantee a similar outcome.