The controversial cement mix used by Halliburton (NYSE:HAL) in the BP (NYSE:BP) oil well, and labeled as unstable by several sources, has been ordered to be tested by U.S. District Judge Carl Barbier.
Barbier said the components of the mix could be "deteriorating over time" and the tests should be done as soon as possible on it.
According to Kenneth E. Arnold, who advised the U.S. Department of Interior, and is a member of the National Academy of Engineering, it may be too late for the cement test to do much good, as "The samples are old now," Arnold said. "Whatever tests they do now are going to be open to interpretation."
As Halliburton also claims, it's difficult to simulate the exact formula under laboratory conditions which was used inside the Macondo well, added Arnold.
This was all started from the release of results from the oil spill commission that siad the test performed on the cement mix before the accident found the mix to be unstable, bringing the actions of Halliburton into question.
Halliburton continues to claim the test done on cement formulas found to be unstable aren't the exact mix used to seal the oil well. They do acknowledge that several tests on the cement mix were unstable, other than one test result which showed the mix to be stable.
The result of this will probably be my expert against your expert thing, and in court, it's a toss-up as to who will ever win one of those.
Showing posts with label Judge Carl Barbier. Show all posts
Showing posts with label Judge Carl Barbier. Show all posts
Tuesday, November 2, 2010
Monday, October 18, 2010
BP (NYSE:BP) Reneging on $75 Million Cap?
In a feisty exchange between a BP (NYSE:BP) lawyer and lawyer for plaintiffs before U.S. District Judge Carl J. Barbier, BP attorney Don Haycraft implied BP could seek to hide behind the $75 million liability cap law under the Oil Pollution Act.
Originally BP had said they wouldn't seek to protect themselves under the cap.
Plaintiffs' attorney Steven Herman responded saying: "We're shocked over here to hear the defendants now bring up this $75 million cap. We were under the impression [the cap] was waived."
Barbier said the American public did have the impression BP was going to waive the cap, paving the way for higher liability payments.
Haycraft responded saying "I know that BP has paid lots and lots and lots" of money at this time in relationship to the oil spill.
When pressed by Herman if BP is prepared to pay all legitimate claims only up to $75 million, Haycraft said he was "not prepared to answer that question in this context."
According to Kenneth Feinberg, who administers the claimant portion of the BP compensation fund, the oil giant has paid out $1.4 billion in claims so far.
Originally BP had said they wouldn't seek to protect themselves under the cap.
Plaintiffs' attorney Steven Herman responded saying: "We're shocked over here to hear the defendants now bring up this $75 million cap. We were under the impression [the cap] was waived."
Barbier said the American public did have the impression BP was going to waive the cap, paving the way for higher liability payments.
Haycraft responded saying "I know that BP has paid lots and lots and lots" of money at this time in relationship to the oil spill.
When pressed by Herman if BP is prepared to pay all legitimate claims only up to $75 million, Haycraft said he was "not prepared to answer that question in this context."
According to Kenneth Feinberg, who administers the claimant portion of the BP compensation fund, the oil giant has paid out $1.4 billion in claims so far.
Tuesday, September 21, 2010
BP (NYSE:BP) Claims Can be "Bundled" says Barbier
U.S. Disrict Judge Carl Barbier has given the go ahead to allow claims against BP (NYSE:BP) to be placed in what are being called "pleading bundles," which both the defense and plaintiff lawyers agreed to.
Another agreement was made concerning the complaint process itself, which will be simplified in order to make the filing go quicker.
How that will work is the lawyers of the oil companies will put together a "master" complaint which includes all the causes of action brought against Transocean (NYSE:RIG), Halliburton (NYSE:HAL) and BP, or other oil companies connected to the oil spill.
After the plaintiffs file the master complaint, defense attorneys will be able to respond with a "master" answer.
From there, anyone who wants to file a lawsuit can simply check off every cause of action against the oil companies they want to go after.
An example of what a pleading bundle would entail is a grouping of those claiming economic losses, such as hotels and restaurants.
Another agreement was made concerning the complaint process itself, which will be simplified in order to make the filing go quicker.
How that will work is the lawyers of the oil companies will put together a "master" complaint which includes all the causes of action brought against Transocean (NYSE:RIG), Halliburton (NYSE:HAL) and BP, or other oil companies connected to the oil spill.
After the plaintiffs file the master complaint, defense attorneys will be able to respond with a "master" answer.
From there, anyone who wants to file a lawsuit can simply check off every cause of action against the oil companies they want to go after.
An example of what a pleading bundle would entail is a grouping of those claiming economic losses, such as hotels and restaurants.
Friday, September 17, 2010
BP (NYSE:BP) Well to be Sealed Permanently Saturday
BP (NYSE:BP) said today the well which failed on April 20 will be permanently sealed on Saturday, ending that part of the story that has plagued the oil giant.
Late on Thursday BP intersected the Macondo well, whereby they can now prepare the final stage pouring in cement for what is called the "bottom kill."
BP reiterated once the well is cemented, it will be completed abandoned and no more oil or gas extracted from it by them.
The well has been temporarily plugged since July 15, when BP placed a cap on the well.
Now that this will be behind them, the legal actions against them have increased, as Judge Carl Barbier, who is overseeing the hundreds of lawsuits, is beginning the process of organizing them all in able to go forward.
Late on Thursday BP intersected the Macondo well, whereby they can now prepare the final stage pouring in cement for what is called the "bottom kill."
BP reiterated once the well is cemented, it will be completed abandoned and no more oil or gas extracted from it by them.
The well has been temporarily plugged since July 15, when BP placed a cap on the well.
Now that this will be behind them, the legal actions against them have increased, as Judge Carl Barbier, who is overseeing the hundreds of lawsuits, is beginning the process of organizing them all in able to go forward.
Transocean (NYSE:RIG) Issue with Blowout Preventer Resolved with Government
A battle had been heating up between Transocean (NYSE:RIG) and other oil companies over the major piece of evidence in the Macondo oil well disaster.
The blowout preventer was the center of the dispute, where concerns over the proper care of it and the potential compromising of its condition were at issue.
For some reason the government said it wasn't going to flush seawater and other fluids out of the control pods. Transocean said if that wasn't done, corrosion could easily set in, causing problems which could lead to malfunction as a result.
To settle the issue, the government did a turnaround and said they'll flush the control pods on the blowout preventer to keep it from corroding before it's examined to see why it failed.
Judge Barbier consequently denied a motion by Transocean to compel the government to protect the device while it was the target of the investigation because of the problem being resolved.
The blowout preventer was the center of the dispute, where concerns over the proper care of it and the potential compromising of its condition were at issue.
For some reason the government said it wasn't going to flush seawater and other fluids out of the control pods. Transocean said if that wasn't done, corrosion could easily set in, causing problems which could lead to malfunction as a result.
To settle the issue, the government did a turnaround and said they'll flush the control pods on the blowout preventer to keep it from corroding before it's examined to see why it failed.
Judge Barbier consequently denied a motion by Transocean to compel the government to protect the device while it was the target of the investigation because of the problem being resolved.
Thursday, September 16, 2010
BP (NYSE:BP), Transocean (NYSE:RIG), Cameron (NYSE:CAM) Want Judge to Require Claimants to Go Through Fund First
As pressure to begin lawsuits against companies involved with the Gulf of Mexico oil spill like BP (NYSE:BP), Transocean Ltd. (NYSE:RIG), Cameron International Corp. (NYSE:CAM) mounts, the companies are seeking to have Judge Carl Barbier, who is overseeing the cases, require almost all of them first go through the process of seeing if the qualify to be paid from the compensation fund set up by BP and administered by Kenneth Feinberg.
Even though it seems slow at this time receiving money from the funds, the idea is it would still be much quicker than using lawsuits, and it would probably pay more when considered the approximate 30 percent lawyers get for whatever judgements they win.
The only downside is if claimants don't qualify, which they will have then put off beginning legal proceedings for months.
Either way, the trials will take time, and it seems worth the attempt to see if they qualify for compensation funds, especially for those making claims who live near the Gulf coast, who are getting the priority treatment from the fund as far as who qualifies.
Even though it seems slow at this time receiving money from the funds, the idea is it would still be much quicker than using lawsuits, and it would probably pay more when considered the approximate 30 percent lawyers get for whatever judgements they win.
The only downside is if claimants don't qualify, which they will have then put off beginning legal proceedings for months.
Either way, the trials will take time, and it seems worth the attempt to see if they qualify for compensation funds, especially for those making claims who live near the Gulf coast, who are getting the priority treatment from the fund as far as who qualifies.
Wednesday, August 11, 2010
BP (NYSE:BP) Venue for Lawsuits Will be in New Orleans
In what some are disturbingly hailing as a victory for plaintiffs, BP (NYSE:BP) will have to defend itself in charges related to the Macondo oil spill in New Orleans.
I say disturbingly above, because the implication is the court will side with plaintiffs in the cases before they're even tried, casting a dark shadow over the process if the venue is what decides the outcomes of the cases, and not the facts involved.
BP had been hoping for the cases to be tried in Texas, but when you consider the refinery problems faced by the oil giant there now, it shouldn't have been considered a venue which would have favored BP, even with a lot of oil companies having a presence in Texas.
Either way, the venue will be New Orleans, and nothing will change that going forward.
A panel of judges made the decision, saying, “Without discounting the spill’s effects on other states, if there is a geographic and psychological ‘center of gravity’ in this docket, then the Eastern District of Louisiana is closest to it.
Referring to U.S. District Judge Carl Barbier, who will preside over 300 plus suits, the panel said he already has “considerable” experience with litigating across numerous districts, and “has been already actively managing dozens of cases in this docket.”
There will be a few exceptions to the venue being in New Orleans, as BP investors will put forth their case before U.S. District Judge Keith P. Ellison in Houston, where it'll be decided if they can receive damages from the share price of BP falling because of the accident.
According to the court order, the parameters of the other cases Ellison will preside over include those concerning civil securities fraud claims, shareholder derivative actions, and claims by employees over losses in company retirement savings plans.
I say disturbingly above, because the implication is the court will side with plaintiffs in the cases before they're even tried, casting a dark shadow over the process if the venue is what decides the outcomes of the cases, and not the facts involved.
BP had been hoping for the cases to be tried in Texas, but when you consider the refinery problems faced by the oil giant there now, it shouldn't have been considered a venue which would have favored BP, even with a lot of oil companies having a presence in Texas.
Either way, the venue will be New Orleans, and nothing will change that going forward.
A panel of judges made the decision, saying, “Without discounting the spill’s effects on other states, if there is a geographic and psychological ‘center of gravity’ in this docket, then the Eastern District of Louisiana is closest to it.
Referring to U.S. District Judge Carl Barbier, who will preside over 300 plus suits, the panel said he already has “considerable” experience with litigating across numerous districts, and “has been already actively managing dozens of cases in this docket.”
There will be a few exceptions to the venue being in New Orleans, as BP investors will put forth their case before U.S. District Judge Keith P. Ellison in Houston, where it'll be decided if they can receive damages from the share price of BP falling because of the accident.
According to the court order, the parameters of the other cases Ellison will preside over include those concerning civil securities fraud claims, shareholder derivative actions, and claims by employees over losses in company retirement savings plans.
Subscribe to:
Posts (Atom)