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BP p.l.c. Message Board

  • stakeholder_9999 stakeholder_9999 Jun 10, 2014 2:58 AM Flag

    Supreme Court Rules BP Must Still Pay Claims!!!

    Supreme Court Rules BP Must Still Pay Claims
    JUNE 9, 2014
    New York Times

    But was this unexpected?

    "BP Shareholders – Are you mad as hell at lawyers?" [GOOGLE]
    Posted by Tom Young
    June 3, 2014 10:45 AM

    And as for “fraud,” BP can only account for a bit over $12 million out of $42 billion, or .0002 of all claims. With most if not all convictions for same stemming from BP’s own in-house claims program, the now defunct GCCF, not the current payment system.
    Who’s getting rich?
    Lawyers are. Just not the ones you think.

    BP has become one big law firm, employing hundreds of in-house and outside lawyers. Total attorneys fees have swelled beyond $1 billion according to recent reports.

    Deadline? What deadline?
    This should have all been over by now. When the Settlement Agreement was executed and Kumbayah sung over two years ago, April 22, 2014 seemed an eternity. That was the agreed upon last day anyone could submit a claim to BP, after April 22, 2014 he was out of luck.
    Game over. Case closed. BP was to be fully released from nearly all commercial liability over six weeks ago.

    But April 22, 2014 has come and gone and the Claims Administration is still open for business. In fact, according to the Settlement Agreement, the Claims Administrator will continue to accept new filings for at least another six months, and likely much longer (but see this caveat for claimants who procrastinate in Section 21.3).

    So the soonest possible deadline, as of today, is December 3,[9] 2014. Worse for BP, that date extends by each day BP keeps its losing appeals alive.

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    • I notice the only post history you have is on the BP message board. Apparently you are neither an investor nor a trader. You are similar to vikkitrader in that you seek only to defame BP. What is your incentive? Hers appears to be ecology and seeking companionship. Why do you single out BP? The oil spill is old news.

    • stakeholer,

      ever hear "Millions for defense but not one dime for tribute?"

      BP needs to send the message that they aren't a mark for all the other charlatans, swindlers, and mountebanks who would still be lining up to for easy money.

      personally, i seek to enrich myself but not at the expense of myself.

      who's getting rich? uh, i'm doing rather well as are other BP investors. not you? well then, i understand your need for self redemption.

      in the interim since the spill, both BP and her shareholders have done rather well. mayhaps you and vikkihater oughta go chase GM and arms manufacturers like Sturm Ruger, S&W. how about tobacco companies? gee, you could even go chase Boeing or DOW Chemical. there are better causes.

      naw. simply admit you had the opportunity for a great yield and nice capital gains with BP. you missed it and you don't like it.

      i didn't and i do.

      Sentiment: Buy

    • Sad state of affairs when the government allows gangsters to go freely about their business. First we saw the Cliven Bundy bunch rob us blind with the government condoning it in stead of arresting them. The results are becoming clear in Vegas. Now the crooks in the South are told fraud and stealing from big business is fine. Supreme court has lost sense of justice.

      • 2 Replies to hetedrol
      • bingo; true, when the legal system becomes illegal...who fixes them?

      • Ironic isn't it hetedrol,

        BP which is now accusing other businesses owners of fraud is the very same company (BP) some of whose own employees HAVE been convicted of the fraud of hiding evidence regarding the circumstances of the cause of the Macondo blowout and the size of the oil spill.

        Now is it unreasonable or even fraudulent if, if for example, a car dealership in LA which sold automobiles primarily to fishermen should wish to make a claim against BP because sales are off would wish to make a claim against BP?

        We haven't even gotten to the injured clean-up employees who may have by now now come down with cancer after being exposed to BP's oil and Corexit?
        Are these people all supposed to show a direct correlation relationship of their cancers to BP's oil and dispersants spilled in the Gulf in 2010?

        Let's have some real independent numbers for the presumed fraud and not just the fallacy of anecdotal evidence, such as the direct statistical evidence for convictions for fraudulent claims versus all claims.

        It should be noted that the total value of the amount of fraud convictions, $12 Million, has been reported to so far be 2/100's of 1 Percent of the total amounts, $42 Billion, claimed against BP.

        Not very much, don't you agree, hetedrol?

        Or does BP now whish that we are no longer are to be "presumed innocent until proven guilty by a court of law"?

        Would not the management of BP whish for the same consideration for themselves?

    • Ok. I'll admit it. I was surprised by the ruling. I read that Justice Scalia was the one who got to decide and assumed the worst.

      Here's why this is especially good news for the plaintiffs. Not only do payments continue, but the appeal delays the deadline to file claims.

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