BP Plc, Transocean Ltd. and Halliburton Co. must convince a federal judge that mistakes that led to the 2010 Gulf of Mexico oil spill don’t amount to gross negligence if they are to avoid billions of dollars in damages for the largest offshore oil spill in U.S. history.
Bank of America Corp. and JPMorgan Chase & Co. , along with three other U.S. mortgage servicers, proposed paying $5 billion to settle a probe of their foreclosure practices by state and federal officials, two people familiar with the matter said.
The U.S. Justice Department has formed the Deepwater Horizon Task Force to consolidate its investigation into possible criminal charges stemming from the drilling rig explosion that killed 11 workers and caused the worst offshore oil spill in U.S. history.
Transocean Ltd., seeking to avoid liability in the Gulf of Mexico spill trial, claimed BP Plc misrepresented the amount of oil that gushed from its blown-out Macondo well, prolonging the catastrophe by 60 days.
Richard Holwell, the Manhattan federal judge overseeing the trial of Raj Rajaratnam, is a former corporate lawyer who condemned insider trading in two recent cases he has handled during his eight years on the bench.
The U.S. Environmental Protection Agency gave states too much flexibility in meeting soot standards, a federal court said in a ruling that could force some states to increase pollution-control efforts.
BP Plc heads into a sprawling trial Monday over who is liable for the biggest offshore oil spill in U.S. history with an early victory, after a judge ruled some documents related to its criminal conviction can’t be used.