Will BP go bankrupt bacause of future lawsuits over oil spill?

Discussion in 'Economics' started by crgarcia, May 7, 2010.

  1. They will find a way to sue around the $75M "limit".
  2. bacause?
  3. I don't see how they can avoid going bkrpt. The fines from the US Govt alone should do it.
  4. BP topples governments as a normal course of business. They are the 4th largest company in the world. This is a hiccup.

    Worst case scenario, they toss their US operations to the wolves of lawsuit and focus on the rest of the world. That is, until we are crushed under the weight of higher gas prices and we quietly let them back in our market under a new name.

    Remember their Texas City refinery blew up in 2005, killed 15, injured almost 200 more. They paid $1.6 billion to victims' families and a $50 million fine. Business as usual.
  5. Illum


    Indeed. BP is owned by some old money. They aren't goin anywhere.
  6. They are capped to $75m for damages but are responsible for the costs of the clean up.
  7. BP + bankruptcy = highly doubtful
  8. Watch out....Spleen polease
  9. yeah try bankrupting a company like BP.... dont you think that BP is able to get some of the best minds in the country to defend them.... same with the brokerage houses on trial on the hill.... they all have the resources to go to the best law firms/ ivy league schools and recruit people that know how to beat the system
    #10     May 15, 2010