Trying it on somewhat

Federal prosecutors in Brazil have filed a 155bn-real ($43.5bn) civil lawsuit against iron miner Samarco, and its owners Vale SA and BHP Billiton, for the collapse of a tailings dam in November that killed 19 people and polluted a major river.

$43 billion?

The total damages, they said, were calculated based upon the cost of the Deepwater Horizon oil spill in the United States. BP’s total pre-tax charge for that spill reached $53.8bn.

Snigger

6 thoughts on “Trying it on somewhat”

  1. In other words, the total damages were calculated on the basis that it’s so unfair that only the US courts get to loot foreign companies, egged on by the US President.

  2. Will TTIP put a stop to this sort of thing, under Investor-state dispute settlement? Or does that only work for investors suing states, not for states suing investors?

  3. @Andrew M – I don’t know the details but I understand TTIP is intended to allow the Yanks to sue whenever they don’t get their own way and for everyone else to go whistle.

  4. If it was based on the Horizon spill where 11 people died it appears that Brazil is not begging for enough. 19 people were killed from the dam bursting so the suit should be for $100B using that logic.

    See, I can make up numbers too.

  5. So the total damages were based on a calculation about a completely unrelated totally different incident somewhere else, in a different industry?

    Why not base the damages on the, erm, damage caused?

    What do they think the word “damage” is supposed to mean?

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