ATP Oil & Gas Corp fka ATPAQ

[seismic]

Thanks for your post. I think we have a great legal team representing ATP in the BP case. They would love to get our full claim paid. They will make a lot of money and we might luck out with BP having to pay our legal bills. The legal team doesn’t make the decision to settle or not settle. The client makes that decision.

My guess is that BP would have no interest in a settlement before the moratorium issue is resolved, paying ATP hundreds of millions of dollars, at this time, just may be too steep for them. The test cases go to trial in July of 2015, BP claims our losses were caused by the US government and the moratorium and not them.

The trustee is driving this settlement and if he offers a bargain basement settlement, BP just might jump at it, it depends how low the trustee will go. I think the trustee is hoping he can get BP to settle to generate enough revenue to pay all of the post-petition creditors and administrated expense claims.

Hell with court document 3264, BP just might tell him to take a hike.