A proven track record is the best way to demonstrate our strength and depth of expertise. Below are examples of our team’s recent appointments.
GlassRatner Advisory & Capital Group, LLC was retained by the United States Department of Justice in its Clean Water Act penalty lawsuits against BP Exploration & Production, Inc., a subsidiary of BP p.l.c., and Anadarko Petroleum Corporation related to the Deepwater Horizon oil spill in the Gulf of Mexico.
GlassRatner provided litigation support services and performed financial analyses regarding the economic impact on the defendants’ and each defendant’s ability to pay a multi-billion dollar penalty. GlassRatner provided five separate reports in this matter, including rebuttal reports, and Mr. Ratner testified for over 6 hours during the multi-week trial.
After the trial, BP Exploration & Production, Inc. entered into $20+ billion settlement with various governmental agencies. This settlement included $5.5 billion for the Clean Water Act penalty. A $160 million Clean Water Act penalty judgement was issued by the Court against Anadarko Petroleum Corporation, even though Anadarko had no operational involvement and was only an investor in the project.
Borden Chemicals & Plastics
We were appointed as manager of BCP Liquidating LLC, an entity established to complete the liquidation of the assets of Borden Chemicals and Plastics OLP (BCP).
Historically the company’s principal product groups were PVC polymer products, which consist of PVC resins and feed stocks, Methanol and derivatives, which consist of methanol and formaldehyde, and Nitrogen products which consist of ammonia and urea. At its peak Borden had revenues of approximately $800 million. As manager of BCP Liquidating LLC we were charged with disposing of several chemical plants, real estate, emission credits, pursuing causes of action and defending the estate against unjust claims.