BP Faces $34B In Deepwater Claims From State, Local Gov'ts

Law360, New York (February 5, 2013, 6:35 PM EST) -- BP PLC said Tuesday that it faced some $34 billion in claims from state and local governments seeking damages in multidistrict litigation over the Deepwater Horizon oil spill, putting a new perspective on what’s at stake in the upcoming trial over the disaster.

In its fourth quarter earnings report, BP said Louisiana, Florida, Alabama and Mississippi, as well as various local governments, had formally presented it with Oil Pollution Act claims for economic losses and property damage from the April 2010 spill.

Civil trial on federal,...
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