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BP p.l.c. Message Board

  • raman_ds raman_ds Feb 24, 2012 3:55 PM Flag

    looks like BP will go to trial

    no settlement, will be volatile week

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    • The American litigation system works but is very costly, slow, and cumbersome. The case against BP and its co-defendants involves hundred of plaintiffs. The co-defendants are adversarial to BP and to each other. This is one huge mess which will take years to untangle given all the rights to appeal. The litigation cost alone can fund Greece for months. Pre and post judgment interest adds to the damages by drip, drip, drip.

      All this means that a settlement is in the works. BP cannot out lawyer the plaintiffs. They don't want all the witnesses to go on the stand and state how sloppy and money centric BP ran the well.

      We have Saturday and Sunday for the announcement.

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