So, the Oil Gusher Brings Down BP..???then what???

[Stuart G]

BP ends up in bandruptcy..sure..now what ??? Does it have assists? How much are they worth, and will someone buy them??
Well, I think that they have a few assists, and yes, someone will buy them, but not assume BPs enormous liability. Eventually, that could amount to tens of billions..maybe more..

Who would buy those assets and assume no liability, since the buyer did not cause the incident?
You be the judge. But my guess is there is someone who would.

[Botany]

1. BP just got the rights to 1/4 of the oil in Iraq

They have very deep pockets.

[Altoid_Cyclist]

2. It would be sort of like when Wyeth bought a large piece of American Cyanamid.

One of the conditions of the purchase was that Wyeth would assume all pending lawsuits and responsibilities for numerous toxic clean-ups caused by AmCy over the years.

I guess that if another company thinks that the assets will more than offset the legal and financial ramifications assumed..... what the hell.

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ first and foremost over integrity.

[Statistical]

3. BP won't go bankrupt from the spill.

Pre-tax profit: $25 billion annually (2009)
Cashflow: $28 billion annually (2009)

Balance Sheet:
Current Assets: $68 billion (assets like cash, money market accounts, short term bonds, etc that can be liqduidated within 1 year)
Total Assets: $236 billion
Shareholder Equity: $101 billion

Shareholder Equity is the value of the company as of today. If you sold all BP assets and paid off all its existing debt you would end up with roughly $101 billion is cash.

BP won't go bankrupt from this spill or even a dozen spills.

[HubertHeaver]

4. BP goes down. The oil continues to gush.