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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: ChanceIs who wrote (134490)6/10/2010 8:45:17 PM
From: ChanceIs1 Recommendation  Read Replies (2) of 206326
 
Another fine point on BP.

Now comes Florida demanding escrow. Should BP respond? Should it respond separately to Mississippi, and Alabama and Tampa and Mobile.

IOW, who is in charge.

If BP pays Florida, and Florida doesn't pay Tampa as it should, and Tampa sues BP, what happens?? How can BP ever be sure that it wouldn't be paying twice for the same damages?

You see. This is Big, Big, Big. It is a mess.

I will get myself in trouble again, but this is something which should probably be handled at the federal level.

If every little backwater along the GOM coast starts suing BP then it will be intractable. These people no doubt have real damages.

I don't have the details, and I am not an attorney. But this is BIG. I sincerely suggest that the HUMANE thing to do would be for BP USA to file BK now. Then the assets get distributed evenly across the claimants - who probably won't get what they deserve. But at least everybody might get something.
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