BP Says it Expressly Waives Damages Cap Without Admitting Fault

NEW ORLEANS - BP has followed up on its counsel's widely publicized statement in open court on the availability of a damages cap for the Gulf oil spill by filing a statement in federal court expressly waiving any cap while not conceding fault or ruling out reimbursement for the billions of dollars it is spending on claims. In re: Oil Spill by the Oil Rig "Deepwater Horizon" in the Gulf of Mexico, on April 20, 2010, MDL No. 2179 (E.D. La.).

Judge Carl J. Barbier, who is presiding over the D_eepwater Horizon_ MDL, gave BP a week to clarify remarks …