St. Joe Co. Says M-I SWACO Owes It For Gulf Oil Mess

Law360, New York (August 27, 2010, 12:58 PM EDT) -- The St. Joe Co., which owns large swaths of property along Florida's Gulf Coast, has hit M-I SWACO with a suit accusing the drilling fluid contractor for the Deepwater Horizon rig of gross negligence, claiming the April 20 explosion and oil leak led to a massive decline in the value of its holdings and share value.

M-I SWACO, hired by BP Exploration & Production Inc. to ensure the proper use and monitoring of drilling fluid, displaced heavy drilling mud from the well with seawater, leading to...
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