The bad news for British Petroleum (BP) just keeps on coming. Remember that $20 billion the company set aside for claims arising out of the massive Deepwater Horizon oil spill? They only have $1.7 billion unassigned after Business Economic Losses claims were higher than expected, reports Reuters.
Nearly two billion? That’s quite a bit, isn’t it? The company has also been hit by over 2,200 new lawsuits in the days before April 20, the three-year statute of limitations deadline imposed by the United States Oil Pollution Act of 1990. Meanwhile, they are currently in trial in New Orleans, Louisiana on related claims. According to Reuters, BP is expected to try to consolidate most of the new suits with the ongoing trial.