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The Deepwater Horizon explosion and oil spill resulted in an onslaught of litigation. Litigation commenced almost immediately after the explosion and oil spill. By May 27, 2010, Transocean, which owned the Deepwater Horizon, said in testimony before the U.S. House Judiciary Committee that it was defendant in 120 lawsuits, of which more than 80 were class actions seeking payment for financial ...
For the fund's payments, BP said it would cut its capital spending budget, sell $10 billion in assets, and drop its dividend. [1] [8] After provisions of the Deepwater Horizon Oil Spill Trust were released 11 August 2010, it was revealed that the BP Spill Fund may be backed by future drilling revenue, using BP's production as collateral. [9]
Deepwater Horizon was a floating semi-submersible ... Cameron International agreed to pay a $250 million settlement to BP PLC to settle all claims related to the ...
For its role in the Deepwater Horizon disaster, a subsidiary of Transocean has agreed to plead guilty to violating the Clean Water Act and to pay $1 billion in civil penalties for violating that ...
Halliburton Resolves Department of Justice Deepwater Horizon Investigation HOUSTON--(BUSINESS WIRE)-- Halliburton Company (NYS: HAL) today announced that it has reached an agreement with the U.S ...
In July 2013, BP made a motion in court to freeze payments on tens of thousands of claims, arguing inter alia that a staff attorney from the Deepwater Horizon Court-Supervised Settlement Program, the program responsible for evaluating compensation claims, had improperly profited from claims filed by a New Orleans law firm.
Halliburton Deepwater Horizon Investigation Closed HOUSTON--(BUSINESS WIRE)-- Halliburton (NYS: HAL) announced today that the United States Department of Justice (DOJ) has closed its investigation ...
In April 2014, the parties reached a $5.15 billion settlement in what was at the time the largest environmental contamination settlement in American history. [39] [2] Since then the total amount for the complete and comprehensive cleanup of the BP DeepWater Horizon incident has passed $60 billion. [citation needed]