Will BP Pay More? Trial to Decide Opens Today
British Petroleum says it has spent $24 billion in spill related expenses and is expected to pay $42 billion more. Is it enough?
The arguments begin today in U.S. District Court with Judge Carl Barbeir presiding. Billions of dollars are on the line as the court must decide if BP is liable for even more damages.
Barbier has promised he won't let the trial drag on; but that is going to be a tough task. AP indicated there are roughly 90 million pages of related documents and could be 300 witnesses called to testify.
There is still a lot up in the air including federal and Gulf states civil claims that could be worth $20 million. There is also an argument between BP and the federal government about exactly how much oil spilled.
The only sure thing is that this is going to be a complicated trial with billions of dollars in claims determined by the outcome.Hundreds of attorneys are working on the case and many more will follow it closely.