Costner, Baldwin million-dollar legal dispute opens in New Orleans

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wwltv.com

Posted on June 4, 2012 at 12:26 PM

Updated Monday, Jun 4 at 5:13 PM

Scott Satchfield / Eyewitness News
Email: ssatchfield@wwltv.com | Twitter: @satchfield

NEW ORLEANS – Two Hollywood actors, Kevin Costner and Stephen Baldwin, appeared at the Hale Boggs Federal Courthouse Monday as the trial opens involving a huge business deal for a device used during the 2010 BP oil spill.

Baldwin and his partner claim Kevin Costner and others misled them into selling their shares of oil extractor devices, while a massive deal to sell the equipment to BP was in the works.

During opening statements Monday, Baldwin’s attorney said of the defendants, “They concealed the fact that BP looked favorably upon funding this.”

BP ultimately bought more than 30 machines, for more than $50 million, while Baldwin and his partner took a buyout for a little more than $2 million, combined.

The two argue they would never have agreed to that if they had known details about the deal.

Speaking about the defendants, Baldwin’s attorney said, “While they’re telling us, ‘no deal,’ they’re telling each other and the world, ‘we got it.’”

But attorneys representing Costner and his partner say the plaintiffs knew about the discussions with BP, but say they didn’t want to take the risk in waiting.

One defense attorney said, “They got their money. They left. They want their cake and they want to eat it too.”

Costner’s attorney stressed that his client never made any false statements, and said the allegations are untrue.

“The plain and simple fact is, Kevin Costner is here for one reason and one reason only – he’s famous,” he said.

 

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