London, Aug 28(ANI): Over 100,000 individuals and business owners have won the right to sue BP for punitive damages over the Gulf of Mexico oil spill.
The main trial against BP, Transocean and other parties will be held on February 27 2012, the Telegraph reports.
A Louisiana court said the plaintiffs are allowed to file their cases against BP under maritime law.
The court also dismissed all claims brought under state law, saying they must be covered under maritime law, the Telegraph reports.
The court also dismissed "general maritime negligence" claims against Anadarko and Mitsui, minority owners of the well, which leaked four million barrels of oil.
However, most claims from Gulf Coast residents are being resolved through 20 billion dollar compensation fund ordered by US President Barack Obama and administered by US lawyer Ken Feinberg.
Feinberg has so far paid five billion dollars to over 200,000 claimants, but the scheme has been criticized for being slow and complicated.
BP has booked a 40 billion dollar charge to cover the total forecast cost of the disaster, including the clean-up costs, fines and compensation. This is based on an assumption that it would not be found guilty of negligence.
According to the rating agency, Moody's analysis the litigation cost is likely to "remain uncertain for years to come", with best estimate being between 40 to 60 billion dollars. (ANI)
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