Baldwin Sues Costner Over BP Centrifuge
NEW ORLEANS—Stephen Baldwin has sued fellow actor Kevin Costner over their investments in a device that BP PLC used in trying to clean up the massive Gulf of Mexico oil spill.The federal lawsuit filed in New Orleans on Wednesday by Mr. Baldwin and a friend claims Mr. Costner and a business partner duped them out of their shares of an $18 million deal for BP to purchase oil-separating centrifuges from a company they formed after the April 20 spill.BP ordered 32 of the centrifuges, which separate oil from water, and deployed a few of the devices on a barge in June. BP capped the well in July and kept any more oil from leaking until the seafloor gusher was permanently sealed in September.Mr. Costner's publicist, Arnold Robinson, declined to comment Thursday on the suit's allegations.Mr. Baldwin and his friend, Spyridon Contogouris, owned shares in Ocean Therapy Solutions, the company that marketed the centrifuges to BP.But Mr. Baldwin and his friend claim they were deliberately excluded from a June 8 meeting between Mr. Costner, his business partner Patrick Smith and a BP executive, Doug Suttles. At the meeting, the suit says, Mr. Suttles agreed to make a $18 million deposit on a $52 million order for the 32 devices.Messrs. Baldwin and Contogouris said they didn't know about the deal when, three days later, they agreed to sell their shares of the company for $1.4 million and $500,000, respectively.Mr. Baldwin and his friend say they were entitled to shares of BP's deposit. Instead, their suit claims Messrs. Costner and Smith "schemed" to use money from BP's deposit to buy their shares in the company."This action effectively robbed plaintiffs of a distribution that otherwise would have been payable to plaintiffs," says the suit, which seeks unspecified damages.Messrs. Costner and Suttles visited Port Fourchon in June to talk about the plan to use the centrifuges."It was designed to give us a fighting chance, to fight back the oil before it got us by the throat," Mr. Costner said at the time.
Source: NUTSHELL:There is an interesting lesson to be learnt from these two men today. Lots of people say: "I have no business with oil and gas", "i'm a banker, lawyer, hollywood actor, comedian, bollywood star, nollywood star, singer", "i'm not an engineer.....; oil and gas is for engineers!". Well, I have news for you. The world economy runs on oil & gas; your energy, heating, consumption and transportation needs are dependent on these fossil fuels all based on: oil and gas. Imagine hollywood movies shot with candle lights and mastered on paper. As such, little things like the value of the US dollar determine the demand for oil and gas; wars are arguably started because of oil and gas.
The point here is this: Oil and Gas activity necessarily affects you one way or another; no matter what walks of life you are involved in. It then becomes necessary for you to get involved in your energy issues either as individuals or as businesses as no business can ignore energy as it is a necessary input in production. This is little wonder why two of hollywood's finest will lock horns over some business interest in the oil and gas business; and we are talking big here; we're talking business with BP. An unknown author said: some people make things happen, some watch things happen while others wonder what has happened. It is clear that Stephen Baldwin and Kevin Costner are making things happen...and they are not even professionals in oil and gas. I know of a trained dentist who PRACTISES, CONSULTS AND TEACHES DENTISTRY in the U.S. and simultaneously runs one of Nigeria's big local exploration and production oil and gas companies. Ladies and gentlemen, make things happen; get involved in energy TODAY.
The point here is this: Oil and Gas activity necessarily affects you one way or another; no matter what walks of life you are involved in. It then becomes necessary for you to get involved in your energy issues either as individuals or as businesses as no business can ignore energy as it is a necessary input in production. This is little wonder why two of hollywood's finest will lock horns over some business interest in the oil and gas business; and we are talking big here; we're talking business with BP. An unknown author said: some people make things happen, some watch things happen while others wonder what has happened. It is clear that Stephen Baldwin and Kevin Costner are making things happen...and they are not even professionals in oil and gas. I know of a trained dentist who PRACTISES, CONSULTS AND TEACHES DENTISTRY in the U.S. and simultaneously runs one of Nigeria's big local exploration and production oil and gas companies. Ladies and gentlemen, make things happen; get involved in energy TODAY.
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