BP Payment schedule
Reader comment on: The BP Shakedown
Submitted by Fred Van Bennekom (United States), Jul 29, 2010 17:29
BP has agreed to pay $20B but in installments. One would assume they could decline -- at great political risk -- to pay an installment if the damage proves less than $20B. If money does start going to politically favored groups (as I predicted months ago), it will be interesting to see if anyone gets BP's back for declining to pay an installment.
The 16 June press release includes this payment schedule:
BP will initially make payments of $3bn in Q3 of 2010 and $2bn in Q4 of 2010. These will be followed by a payment of $1.25bn per quarter until a total of $20bn has been paid in.
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