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BP p.l.c. Message Board

  • debrasteitztravel debrasteitztravel Mar 4, 2013 1:14 AM Flag

    Bp awarded 750 million from Transocean,s insurance by New Orleans judge to help cover costs.

    not a major surprise after that lame TRansocean report on Friday. Just getting warmed up.

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    • i think you may be the lame one. you have mixed up some of your purported facts. give the link....

      Sentiment: Buy

    • Insurance companies have a duty to defend the policy holders, in this case that would be TransOcean.

    • Court cannot AWARD ANYTHING, simply said BP can contact the Insurance company. But Transocean insurance company says no coverage for BP.

      The insurance companies opposed BP’s attempt to access Transocean’s coverage. “BP is mentioned nowhere in any of the policies,” lawyers for Lloyd’s and the other excess carriers said in a July filing with the appeals court.
      BP asked for “an expansive and unreasonable interpretation of the policies now because it was unprepared for and did not intend to insure against such extraordinary losses,” the lawyers said.

      • 1 Reply to castcore
      • Maybe I should come over to the RIG board and start trolling like you do here, Castcore. I could mention how multpile safety systems on the platform were defeated due to lack of maintenance. Or that gas detection systems were inadequate and many disabled to prevent nuisance alarms. Or maybe how interlocks that would have cut power to the ignition sources that sparked the explosion/fire were nonfunctional. Or that emergency drills were skipped or taken as a joke. Or that RIG management told their employees to just shut up about their observations of trouble brewing with the well. BP has some dirty laundry, but they aren't the only ones. Your whining falls on deaf ears here. BP has paid over 90% of the restitution and restoration costs of the incident because they accepted their major role in it. RIG has played dumb and denied their culpability from the very start. If they had done their job properly the spill would not have happened and their employees would not be dead. They should have told BP to find another driller if they had so many issues with BP's directives. They instead smiled as they took the big checks. Cough it up!

    • true that

34.27+0.14(+0.41%)Aug 24 4:01 PMEDT