St. Joe Co. Sues Halliburton for its Role in Gulf Oil Spill

Posted on August 11, 2010

Real estate developer St. Joe Co. has filed a lawsuit against BP for failing to cement the Deepwater Horizon well properly, leading to the largest oil spill in history.

Halliburton, known as a major defense contractor, is also an oil field contractor that had sole responsibility for cementing the Macando well which is attached to the rig owned and operated by BP that exploded April 20. In the complaint filed in Delaware, St. Joe said Halliburton was negligent and bears full responsibility for the spill of crude oil that has polluted a portion of the Gulf. The lawsuit accuses Halliburton of “failing at every stage” of the cementing process.

St. Joe Co. has substantial real estate holding in Florida and it claims it will lose a significant amount of money in its value. UPI reports at least 70% of its more than 577,000 acres in Florida fall within 15 miles of the Gulf coast.

Losses for St. Joe include its assets and an interruption to its business. The value of its stock is down about 40%. The company says it has lost somewhere in the range of $1 billion and is looking for full restitution.

If your business has suffered a severe financial loss, a loved one has suffered an injury, or your property has been damaged as a result of the BP spill, the Florida oil spill economic loss attorneys at Farah & Farah are ready to consult on your situation and explore your options for compensation.

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