BP Deposits $3 Billion in Spill Fund
Headline Legal News
BP PLC said Monday that it has made an initial deposit of $3 billion into a $20 billion spill-recovery fund.
BP said it was making the deposit earlier than the originally scheduled Sept. 30 deadline to show its commitment to restoring the livelihoods of people affected by the worst offshore oil spill in history. The company said it would make an additional $2 billion deposit in the fourth quarter.
In June, BP agreed to set up the fund following a meeting between company Chairman Carl-Henric Svanberg and then-Chief Executive Tony Hayward with U.S. President Barack Obama and senior administration officials.
BP said the account would be administered by a newly established trust overseen by former U.S. District Judge John Martin and by Kent Syverud, dean of the Washington University School of Law. Citigroup Inc. will serve as corporate trustee.
"We are pleased that BP made an initial contribution and has taken an important step toward honoring its commitment to the President and the residents and business owners in the Gulf region," Associate Attorney General Tom Perrelli said in a statement. "We have made clear that the company still needs to ensure that the necessary funds will be available if something happens to the subsidiary that established the trust and we look forward to completion of an appropriate security arrangement in the near future."
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USCIS Will Begin Accepting CW-1 Petitions for Fiscal Year 2019
On April 2, 2018, U.S. Citizenship and Immigration Services (USCIS) will begin accepting petitions under the Commonwealth of the Northern Mariana Islands (CNMI)-Only Transitional Worker (CW-1) program subject to the fiscal year (FY) 2019 cap. Employers in the CNMI use the CW-1 program to employ foreign workers who are ineligible for other nonimmigrant worker categories. The cap for CW-1 visas for FY 2019 is 4,999.
For the FY 2019 cap, USCIS encourages employers to file a petition for a CW-1 nonimmigrant worker up to six months in advance of the proposed start date of employment and as early as possible within that timeframe. USCIS will reject a petition if it is filed more than six months in advance. An extension petition may request a start date of Oct. 1, 2018, even if that worker’s current status will not expire by that date.
Since USCIS expects to receive more petitions than the number of CW-1 visas available for FY 2019, USCIS may conduct a lottery to randomly select petitions and associated beneficiaries so that the cap is not exceeded. The lottery would give employers the fairest opportunity to request workers, particularly with the possibility of mail delays from the CNMI.
USCIS will count the total number of beneficiaries in the petitions received after 10 business days to determine if a lottery is needed. If the cap is met after those initial 10 days, a lottery may still need to be conducted with only the petitions received on the last day before the cap was met. USCIS will announce when the cap is met and whether a lottery has been conducted.