BP Payout

Page 10

10- 24-2010

By: Wilmington


How the oil giant is following up on the largest spill in U.S history. BP said that On Monday it was committed to waiving
The legal cap on it's liability from the Gulf oil spill,which could have limited the cost to the oil giant to $75 million plus
Cleanup costs. BP already has paid out hundreds of millions of dollars to fishermen,retailers, charter boat captains and
Property owners who suffered from the spill, the largest in U.S history.
The Company has publicly committed to pay cleanup cost and all, rather than applying the cap. Under pressure from the Obama
Administration, the company also has established a $20 billion compensation fund,but a slew of lawsuits also have been brought against
The company and it's business partners. Bp reserved the the right to seek reimbursement from the other defendants and denied
Engaging in grossly negligent conduct, which would open the door to potentially huge punitive damages. Bp needs to paid all their error
What they did because a lot of animals died and that's not fair that all those poor animals are suffering.