In response to an FT article by Christopher Adams on 15th February 2015, entitled 'BP's battles make it vulnerable to major move'
"Exxon might navigate the US legal system more adroitly"
I don't think adroit navigation has much to do with it. I think the extent of BP's legal difficulties have been exacerbated by its flag. If Exxon takes over BP I suspect that the courts involved will suddenly decide that the company has paid its debt to society.
As with the banks, this is about which way the wind blows…US regulators have noticed that the flags flown by European banks flap at a crooked angle, which they do, whereas they appear to believe that those flown on Wall Street are relatively straight and true.
The legal system should be above politics - it isn’t.