ATPG Senior 11.875% 2nd Lien Bonds (fka ATPG.GE)

[Enterprising Investor]

A $3B claim does not equal a $3B payment.

These things get settled.

Citigroup sued Wells Fargo for $60B for interfering it its takeover of Wachovia in 2008. Case settled for $100 million.

BP will never be able to pay the full amount. BP is already responsible for close to $40 billion in fines, cleanup costs, and settlements as a result of the oil spill in 2010, with an additional $16 billion due to the Clean Water Act. Personally, I am unsure why the company has not filed for reorganization much like Texaco did in the 1980's (Texaco, Inc. v. Pennzoil, Co.).