Contract Ban, Civil Litigation Add To BP's Woes
BP has been banned from seeking new contracts with the federal government. It's the latest blow, with the company set to appear in a New Orleans federal court next month to work out its guilty pleas to criminal charges in connection with the Deepwater Horizon explosion. The oil giant has agreed to pay a record $4.5 billion in a criminal settlement with the U.S. Justice Department. But far more money could be at stake in civil litigation stemming from the oil disaster.