BP to waive cap on spill liability
WILMINGTON, Del – BP plc told a court it was committed to waiving the legal cap on its liability from the Gulf oil spill, which could have limited the cost to the oil giant to $75 million plus clean-up costs.
“BP has chosen to waive the statutory limitation on liability under OPA,” BP said in a court filing on Monday. OPA is the Oil Pollution Act of 1990.
BP has already paid out hundreds of millions of dollars to fisherman, retailers, charter boat captains and property owners who suffered from the spill, the largest in U.S. history.