BP Settles Alaskan Tax Dispute For $379M

Law360, New York (January 2, 2008, 12:00 AM EST) -- BP Exploration (Alaska) Inc., a key subsidiary of British energy giant BP Plc, has agreed to pay $379 million to settle a dispute with the state of Alaska.

Alaska Governor Sarah Palin announced the settlement on Monday.

The sum covers what Alaska characterized as outstanding liabilities, namely for corporate taxes for the tax years 2000, 2001 and 2002. Alaska said that state law prohibits it from disclosing the details of the dispute or the settlement.

“I am very pleased with this settlement and appreciate BP’s willingness...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.