| BP Statement on U.S. District Court Ruling on Partial Summary Judgment Regarding Indemnity |
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27/01/2012 01:47 (124 Day 13:06 minutes ago) | |||||
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The FINANCIAL -- Today's ruling makes clear that contractors will be held accountable for their actions under the law, according to BP.
While all official investigations have concluded that Transocean played a causal role in the accident, the contractor has long contended it is fully indemnified by BP for the liabilities resulting from the oil spill. The Court rejected this view.
Under the decision Transocean is, at a minimum, financially responsible for any punitive damages, fines and penalties flowing from its own conduct. As we have said from the beginning, Transocean cannot avoid its responsibility for this accident.
By contrast, since the spill we have stepped up, acknowledged our role and paid more than $7.8 billion in claims, advances and other payments to individuals, businesses and governments.
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