BP To Waive $75M Spill Liability Cap In Some Cases

Law360, New York (October 19, 2010, 1:06 PM EDT) -- BP PLC says it will waive a $75 million cap on oil spill economic damage claims stemming from the Deepwater Horizon disaster if they are legitimate, and is urging other companies responsible for the spill to do the same.

The company gave official notice of its intentions in a filing Monday, responding to U.S. District Court for the Eastern District of Louisiana Judge Carl J. Barbier’s request that the parties address whether they will be litigating over the $75 million cap, the liability limit under the...
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