BP is in the process of not only appealing the settlement agreement it voluntarily entered into, but BP is also engaging in a multi-million dollar media campaign praising their efforts in the Gulf and alleging fraud by some claimants and misinterpretation of the settlement agreement by “trial lawyers” and politicians. See below:
When all else fails, blame the “trial lawyers”. We “trial lawyers” have mind control. We can make anyone do what we want and pay us any amount of money we want. I sit here in my office every day and simply throw cash in the air. In fact, I’m going to call an insurance company right now and have them send me $1,000,000 on a case just because I say so. That’s how it works.
Seriously? Do you really believe that baloney? BP has teams of lawyers. High priced lawyers who spent months negotiating this settlement. BP should be suing their lawyers, not appealing the settlement agreement.
If you really want to read a good article on these issues, read Joseph F. Rice’s article here. He was involved in the negotiations. BP agreed to a lot of the settlement terms in order to get leniency on the criminal fines. Once they got that, they went after the settlement.
Unfortunately, when it all gets down the lick log, it comes to MONEY. BP is trying to save money, and it doesn’t want to pay if it can fight its way out of it.