BP Contracts with U.S. Government Temporarily Suspended for ‘Lack of Business Integrity.’

Posted in BP British Petroleum,Maritime Lawsuits on December 17, 2012

BP is currently being suspended from new contracts with the U.S. Government. On November 15, BP agreed to plead guilty to charges involving the death of ii oil rig workers that occurred on April 20, 2010. aboard the Deepwater Horizon oil rig. BP also pled guilty to lying to congress on how much oil was spewing from the blownout Macondo well. The suspension is due to BP’s “lack of business integrity.”

According to WPTV.com:

the EPA decision bars BP and its affiliate companies from winning new government contracts, grants or other business until the company can show the agency that it meets federal business standards.

BP agreed to pay $4 billion in criminal fines and penalties as a result of the charges — the largest criminal resolution in U.S. history, according to prosecutors, who accused the company of fostering a “culture of privileging profit over prudence.”

The company also settled civil securities fraud charges with the Securities and Exchange Commission with a $525 million payment.

The government is also seeking civil damages under the Clean Water Act. That lawsuit is set to go to trial in February.

Blog post by Louisiana maritime lawyer, Gordon, Elias & Seely.