BP clean-up costs to soar, experts say

April 19, 2011

Financial Times

The Deepwater Horizon disaster is likely to end up costing BP much more than the $40.9bn it has so far paid out and set aside, according to U.S. legal experts who have worked on large pollution cases. 

BP and the U.S. authorities are expected to seek an eventual global settlement that rolls up into a single deal the company’s liability for fines, damages and other penalties. 

Alfred Kuffler, a lawyer at Montgomery, McCracken, Walker & Rhoads, who has experience of pollution cases, says: “In terms of managing the risk, there is a lot to be said for capping the loss as best you can.”

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