Refining Deepwater Horizon Oil Spill Claims

Law360, New York (February 16, 2011, 11:35 AM EST) -- As many businesses that have been significantly affected by the Deepwater Horizon oil spill are parties to secured financing arrangements, many lenders are wondering whether their borrowers’ claims are subject to the lenders’ existing security interests.

Since most of the affected businesses’ claims for damages resulting from the Deepwater Horizon oil spill will fall under the Oil Pollution Act of 1990 (OPA 1990), and other similar state statutes, this article will focus on the ability to take a security interest in such statutory claims and whether...
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