{"id":36784,"date":"2013-07-16T11:24:53","date_gmt":"2013-07-16T15:24:53","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=36784"},"modified":"2013-07-16T11:38:51","modified_gmt":"2013-07-16T15:38:51","slug":"hedge-funds-who-invested-in-bp-partner-are-suing-for-oil-spill-damages","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/07\/2013\/hedge-funds-who-invested-in-bp-partner-are-suing-for-oil-spill-damages.html","title":{"rendered":"Hedge Funds Who Invested In BP Partner Are Suing For Oil Spill Damages"},"content":{"rendered":"<p><a href=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2013\/07\/bp_oil_spill_101649115.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-36786\" alt=\"bp_oil_spill_101649115\" src=\"http:\/\/www.hedgeco.net\/news\/wp-content\/uploads\/2013\/07\/bp_oil_spill_101649115-300x211.jpg\" width=\"300\" height=\"211\" srcset=\"https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2013\/07\/bp_oil_spill_101649115-300x211.jpg 300w, https:\/\/hedgeco.net\/news\/wp-content\/uploads\/2013\/07\/bp_oil_spill_101649115.jpg 750w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a>New York (HedgeCo.Net) &#8211; Anadarko Petroleum Corporation, a BP partner, is being sued by investors for its role in the 2010 Deepwater Horizon oil spill at the Macondo well. Anadarko has over 100 hedge fund shareholders.<\/p>\n<p>Reuters reports: &#8220;The investors claimed Anadarko wasn\u2019t a passive partner in the Macondo well. It \u201cexpressly approved and funded a series of extremely risky decisions made in connection with drilling the well,\u201d the investors said in court filings. Those decisions \u201ccontributed directly to the disaster,\u201d they said. Once the spill occurred, Anadarko attempted to prop up its shares by continuing to downplay its role in the project, the investors said.&#8221;<\/p>\n<p>The total discharge by the oil spill \u00a0is estimated at 4.9 million barrels.\u00a0In November 2012, BP and the United States Department of Justice settled federal criminal charges with BP pleading guilty to 11 counts of\u00a0manslaughter, two misdemeanors, and a felony count of lying to Congress. BP also agreed to four years of government monitoring of its safety practices and ethics, and the Environmental Protection Agency announced that BP would be temporarily banned from new contracts with the US government. BP and the Department of Justice agreed to a record-setting $4.525\u00a0billion in fines and other payments. (Wikipedia)<\/p>\n<p>Anadarko has already agreed to pay BP $4 billion to settle its share of oil-spill claims by private parties, according to Reuters.<\/p>\n<p>Alex Akesson<br \/>\nFor\u00a0<a title=\"hedge funds\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a><br \/>\n<a href=\"mailto:alex@hedgeco.net\">alex@hedgeco.net<\/a><br \/>\n<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.Net<\/a>\u00a0is a premier\u00a0<a title=\"hedge fund database\" href=\"http:\/\/www.hedgeco.net\/\">hedge fund database<\/a>\u00a0and community for qualified and accredited investors only. Membership in\u00a0<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">HedgeCo.net<\/a>\u00a0is FREE and EASY. We also offer FREE LISTINGS for\u00a0<a title=\"hedge fund\" href=\"http:\/\/www.hedgeco.net\/\">Hedge Funds<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New York (HedgeCo.Net) &#8211; Anadarko Petroleum Corporation, a BP partner, is being sued by investors for its role in the 2010 Deepwater Horizon oil spill at the Macondo well. Anadarko has over 100 hedge fund shareholders. Reuters reports: &#8220;The investors [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16042,3],"tags":[],"class_list":["post-36784","post","type-post","status-publish","format-standard","hentry","category-hedge-fund-performance-2","category-hedgeco-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/36784","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=36784"}],"version-history":[{"count":4,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/36784\/revisions"}],"predecessor-version":[{"id":36787,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/36784\/revisions\/36787"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=36784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=36784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=36784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}