Statement on Deepwater Horizon Escrow Fund

Thursday, August 12, 2010

On Augutst 9, Associate Attorney General Tom Perrelli issued the following statement on the Department of Justice’s negotiations to establish an escrow account for the Deepwater Horizon oil spill:

"Today, the department announced that it had completed negotiations to establish a $20 billion fund to provide the necessary resources to those suffering from the effects of the oil spill in the Gulf of Mexico. We are pleased that BP made an initial contribution and has taken an important step toward honoring its commitment to the President and the residents and business owners in the Gulf region. We have made clear that the company still needs to ensure that the necessary funds will be available if something happens to the subsidiary that established the trust and we look forward to completion of an appropriate security arrangement in the near future."
 

Maritime Reporter August 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

News

Citigroup Seeks British Court Backing on China Metals Claims

Citigroup Inc said on Friday it has started proceedings in commercial court in London to enforce its rights over $285 million of financing at two ports in China,

MARAD, ABS Sign MOA for NDRF Class and Survey

The U.S. Department of Transportation’s Maritime Administration (MARAD) announced it has signed a new Memorandum of Agreement (MOA) with the American Bureau of Shipping (ABS),

Salvage Crews Avert Disaster in the Galápagos

Mammoet Salvage helps avert environmental disaster in the Galápagos Islands Mammoet Salvage and its partner, CPT Remolcadores SA of Chile, recently responded

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Pipelines Pod Propulsion Port Authority Ship Electronics Ship Repair Ship Simulators
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0865 sec (12 req/sec)