Baldwin And Costner To Settle Lawsuit Over BP Oil Spill Cleanup In Court
Kevin Costner and Stephen Baldwin could spend the next few weeks in court down in New Orleans to settle a lawsuit over the BP oil spill.
Baldwin filed a lawsuit against Costner after the BP oil spill in 2010. Costner’s Ocean Therapy Solutions company sold BP centrifuges to help cleanup the oil spill. Baldwin said that he was duped by Costner to sell his shares before the deal, worth millions, went through.
The lawsuit also involves Baldwin’s friend, Spyridon Contogouris, who also feels that he was misled about the BP deal.
CBS reports that both Baldwin and Costner are expected to testify during the trial. Also, ”because of the seriousness of the claims and issues raised by the parties,” both parties are expected to be in court every day.
After the oil spill BP agreed to buy 32 of the centrifuges, which were designed to separate oil from water, for $52 million. Al.com reports that BP put down an $18 million deposit after a meeting with Kostner and his Ocean Therapy Solution’s business partner Patrick Smith.
Baldwin says that he was deliberately excluded from the meeting and that he and Contogouris are entitled to a share of BP’s deposit. Baldwin says that Ocean Therapy Solutions planned to use the deposit to buy Baldwin’s and Contogouris’ shares.
Costner says that he was unaware, and was even offended, to find out that Baldwin and Contogouris were planning to sell their shares of the company. A court filing summarizing Costner’s version of the story, reads:
“Not only did Costner not know that Plaintiffs were negotiating to sell their OTS interests, he was surprised and offended by the idea that Contogouris and Baldwin would walk away from OTS with almost $2 million in cash despite having invested no money in the company, and at a time when a contract with BP was uncertain to materialize.”
Baldwin and Contogouris are hoping to win $21 million from their lawsuit against Kevin Costner and Ocean Therapy Solutions. Costner and the other defendants have filed counterclaims for unspecified damages.