Monday, June 7, 2010

BP (NYSE:BP) Verses Exxon (NYSE:XOM) Valdez Lawsuits

"BP (NYSE:BP) is saying they will pay legitimate claims just like Exxon (NYSE:XOM) said after the Valdez oil spill," said lead attorney at Baron and Bud, Scott Summy. He is representing 18 fisherman in lawsuits against the UK company. "Yet once publicity died down, Exxon litigated for over 20 years," said Summy.

Even though BP is maintaining they will pay "all legitimate claims," in all reality, as wonders Summy, how hard will it be to get them to actually pay. BP said they don't make statements on legal matters.

Exxon volunteered to pay Alaskans, as well as businesses $300 million right away after their oil spill. Courts ended up ordering Exxon Mobil to pay an additional $25 million to some groups that had been overlooked. The total amount that the U.S. Supreme court ordered Exxon Mobil to pay was $507 million, plus interest in the amount of $470 million in 2009.

BP has already paid out 18,000 of the 36,000 claims that have been filed against them, totaling close to $48 million. BP is focusing on the claims whose livelihoods have been effected. As well as the families of the 11 victims who died and the additional 17 people who were injured.

The federal cap is $75 million for offshore damages. Most of the claims against BP will not be covered under this cap including, shareholder lawsuits, cleanup costs, tort lawsuits, as well as any civil or criminal penalties and any state claims.

1 comment:

  1. The crude oil is toxic!! Workers cleaning the oily Gulf beaches need to know the danger. Don't become BP's Collateral Damaged, like Exxon’s Collateral Damaged.

    My name is Merle Savage, a female general foreman during the Exxon Valdez oil spill (EVOS) beach cleanup in 1989. I am one of the 11,000+ cleanup workers from the Exxon Valdez oil spill (EVOS), who is suffering from health issues from that toxic cleanup, without compensation from Exxon.

    Dr. Riki Ott visited me in 2007 to explain about the toxic spraying on the beaches. She also informed me that Exxon's medical records and the reports that surfaced in litigation by sick workers in 1994, had been sealed from the public, making it impossible to hold Exxon responsible for their actions.

    Exxon developed the toxic spraying; OSHA, the Coast Guard, and the state of Alaska authorized the procedure. Beach crews breathed in crude oil that splashed off the rocks and into the air -- the toxic exposure turned into chronic breathing conditions and central nervous system problems, neurological impairment, chronic respiratory disease, leukemia, lymphoma, brain tumors, liver damage, and blood disease.

    My web site is devoted to searching for EVOS cleanup workers who were exposed to the toxic spraying, and are suffering from the same illnesses that I have. There is an on going Longshoreman’s claim for workers with medical problems from the oil cleanup. Our summer employment turned into a death sentence for many -- and a life of unending medical conditions for the rest of Exxon’s Collateral Damaged.