MY DAMAGE CLAIM TO BP

(Note: ESIS, Inc. is the company BP has designated to receive damage claims related to the Deepwater Horizon Spill in the Gulf of Mexico.)

ESIS, Inc.
1 Beaver Valley Road
Wilmington, DE 19803

Dear Sir or Madam:

As a BP shareholder, I submit this claim for myself and on behalf of all others similarly situated. Those responsible for my damages include BP itself as well as Mr. Svanberg, Mr. Hayward and all directors and officers, personally.

The Oil Pollution Act of 1990 (33 USC 2701 et seq.) provides a cap of liability for damages (apart from remediation) caused by an oil spill such as the current disaster at the Deepwater Horizon site. This limit is $75 million. My claim, on behalf of myself and BP shareholders, is for every dollar BP pays out for damages in excess of the statutory limit.

The answer to the question of “who pays” for a tort or injury often results from a complex mix of conflicting policy considerations. In this case, that complicated policy decision on “who pays” was made twenty years ago by the US Congress, and the officers and directors of BP have no authority to second-guess that determination or decide unilaterally what BP “should” pay. That question is settled. I am astonished that the stewards of BP’s assets would raid the treasury in pursuit of some inchoate (and unlikely) PR benefits, or perhaps to insulate themselves personally against potential criminal charges relating to BP’s actions in the Gulf. This money is not yours to spend. It belongs to the shareholders.

I demand that BP immediately cease paying damage claims in excess of its legal liability. I further demand that BP withdraw from its pledge to fund any impromptu, extra-legal escrow fund with $20 billion or any other sum.

While I look forward to a prompt response to this letter, and I remain hopeful that the officers and directors of BP will swiftly come to their senses, I reserve my rights to pursue claims with the SEC, the US Department of Justice, and any other appropriate authority.

Very Truly Yours,


Michael Kubacki, Esq.

Copyright2010MichaelKubacki