Archive for September, 2014

BP Seeks Insurance Funds To Cover Oil Spill Settlements

September 16th, 2014 by Amaro Law Firm

Attorneys for BP have requested $750 million in insurance proceeds to cover its payouts from previous oil spill settlements. The company is asking that a Texas court grant the company permission to tap insurance claims filed with its partner, Transocean Ltd. The policies include $50 million from Ranger Insurance and $700 million from Lloyd’s of

BP Oil Spill Settlement Could Include Recreational Fishermen

September 11th, 2014 by Amaro Law Firm

A study from the University of Florida found that recreational fishermen lost $585 million due to the Deepwater Horizon oil spill of 2010. The study found that a portion of the BP oil spill settlement could go toward repairing the damage the spill did to the local fishing waters, rather than toward individual fishermen. The

Judge: BP Oil Spill Disaster Due To Negligence

September 4th, 2014 by Amaro Law Firm

In what could be a landmark decision, U.S. District Judge Carl Barbier ruled that the oil company’s gross negligence and reckless conduct contributed to the BP oil spill disaster of 2010. The ruling could exposed the troubled petroleum conglomerate to as much as $18 billion in penalties and fines from the federal government. Judge Barbier

BP Oil Spill Moratorium Endangers Local Businesses

September 3rd, 2014 by Amaro Law Firm

While the environmental and financial damage from the 2010 BP oil spill cost the company billions of dollars, the petroleum giant was not the only business affected by the disaster. Drilling suppliers and other oilfield support firms were practically closed after the federal government imposed a six-month BP oil spill moratorium on other oil exploration