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Jun 11, 2010 5:40 PM by Chris Welty

Treasurer Asks for BP Bankruptcy Plan

BATON ROUGE, La. (AP) - State Treasurer John Kennedy thinks
Louisiana officials need to prepare for the possibility oil giant
BP could file for bankruptcy because of the massive spill in the
Gulf of Mexico.
Kennedy sent Gov. Bobby Jindal a letter this week urging him to
devise a plan to deal with the oil spill cleanup and response
efforts in the event of a BP bankruptcy. Kennedy says he's not
suggesting BP PLC is about to make the bankruptcy filing, but he
says the state needs to have a back-up plan to ensure cleanup
efforts don't get interrupted if that filing were to happen.
A Jindal spokesman says the governor's office asked Attorney
General Buddy Caldwell several weeks ago to research the state's
options if BP were to make a bankruptcy filing.

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