Wednesday, August 18, 2010

BP (NYSE:BP) No Longer Accepting Negligence Claims

Jim Hood, Mississippi's Attorney General said that he has yet to decide either way if he will file a state lawsuit against BP (NYSE:BP), because of the damage they have suffered from the oil spill. Hood said, "We're in no hurry to file any litigation."

He said that he is taking the time to fully review potential claims. He is looking for damages caused by the spill. As well as the chemical dispersant used and it's possible long term effects. BP's statics show that Mississippi has filed a total of 9,600 "actionable" legal claims. Only 6,050 of these claims are still being reviewed, that's 63 percent.

On Wednesday August 23rd, BP will no longer be accepting new negligence claims. Kennith Feinberg, the administrator appointed by the government will be taking over and handling all legal claims from that point on.

While BP says they have received a total of 24,493 claims from Mississippi and paid out close to $29.5 million to the state. Hood said that according to the company's statistics, of the 1,062 from rental property owners, a total of 363 were paid. While 213 claims were made by restaurant owners and only 53 were paid out, and 30 of 695 claims were filled for boats.

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