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.

BP (NYSE:BP) Spill Containment As Oil Rages Towards Shorelines

As BP's (NYSE:BP) oil spill containment efforts continue on, the already spilled oil continues its course into the ocean and towards the shorelines. The latest predictions are saying the oil could hit near the Mississippi Sound as well as the coastline near the mouth of Mobil Bay.

"We are working around the clock to keep the oil off the shoreline and have had the gift of time to plan for its arrival," said Capt. Steven Poulin, incident commander for the Coast Guard. "The projections are of concern. This is a dynamic situation influenced by a wide variety of environmental factors, so while we're not certain where or what the impact will be, but we're prepared."

The Unified Incident Command in Mobil said it has aggressively increased air and sea surveillance. In place are additional beach support teams on shore as well. There are also over 6,000 people taking part in the response effort on the shorelines and in open water in Florida, Alabama, and Mississippi.

As oil cleanup efforts are being highly increased, BP said earlier today that it has already spent $990 million on cleaning and fighting the oil spill. This amount doesn't include the many lawsuits for damages.