Business

States looking for more claims from BP

interns Contributor

Gulf Coast states are gearing up to follow shrimpers and hotel owners in seeking payouts from BP PLC for lost revenue and other damages stemming from the Gulf of Mexico oil spill.

The demands could far exceed the $305 million BP has already given the states of Louisiana, Mississippi, Alabama and Florida to help pay cleanup costs, promote tourism and begin building sand berms off the coast of Louisiana, state officials say. Lawyers advising the states said they would eventually seek multi-billion dollar payouts, but it was still too early to give a tally.

BP declined to comment on the states’ legal strategies. The British oil company agreed nearly two weeks ago to honor claims for damages and lost business revenue from individuals and businesses through a $20 billion, independent compensation fund administered by Kenneth Feinberg, the Washington, D.C.,-based lawyer and arbitration expert.

Full Story: http://www.foxnews.com/us/2010/06/28/states-weigh-big-claims-bp/