BP fund-seekers might have to waive right to sue: BP settlements could shield defendents

[Better Believe It]

BP fund-seekers might have to waive right to sue
Settlements from BP’s $20 billion oil spill fund could shield defendants
By Ian Urbina
August 20, 2010

WASHINGTON — People and businesses seeking a lump-sum settlement from BP’s $20 billion oil spill compensation fund will most likely have to waive their right to sue not only BP, but also all the other major defendants involved with the spill, according to internal documents from the lawyers handling the fund.

The documents — which include e-mails, draft and final versions of the protocols, claims forms and legal notes about the administration of the fund — provide the first definitive picture of who will be paid by the $20 billion fund, and how and when.

They also shed new light on the components of the payment plan that are likely to stir controversy, including the fund’s emphasis on geographic proximity as a determining factor for eligibility.

Legal experts said that the eligibility criteria in the protocol, including the emphasis on proximity, make intuitive sense, but they will cut out large sectors of businesses and people that were indirectly but nonetheless deeply affected by the spill.

The possible provision in the final oil spill settlement protocol requiring people to waive their right to sue companies other than BP that were working on the rig is also expected to face protest, legal experts said.

Transocean, Halliburton immune from lawsuits?

Those other companies related to the spill include Transocean, the operator of the Deepwater Horizon rig that exploded and sank in April; Halliburton, the company responsible for cementing the well; and Cameron International, the maker of the failed blowout preventer, a device designed to shut off a well.

Read the full article at:

http://www.msnbc.msn.com/id/38783395/ns/us_news-the_new_york_times