Liability Questions Loom For BP And Ex-Partners
Professor Joseph Grundfest is quoted on liability issues regarding the Gulf Coast oil spill. John Schwartz of the New York Times reports:
For now, BP appears to be the deep-pocketed party footing many of the bills, including setting up a $20 billion fund to compensate victims of the spill. But the legal endgame of sorting out the final tab among the companies that owned the well and worked on the Deepwater Horizon rig has also begun.
Although BP has said time and again that it will clean up the spill and pay all legitimate claims, the company has also put its former rig partners on notice that they will be sharing those costs. And the partners are fighting back.
Joseph A. Grundfest, an expert on business law at Stanford Law School, said Anadarko’s intent was clear. “If BP’s conduct is sufficiently egregious,” he said, “then Anadarko might get off the hook for some or all of its liability as a co-owner of the well.”