The company also recorded a $10,668,000 litigation expense during the second and third quarters of 1988.
The court reasoned that the state law created a liability for litigation expenses that should be included.
Under the terms of the management contracts, the Government agreed to reimburse the companies for any litigation expenses.
The board's 1998 budget, however, states that "the corporation anticipates litigation expense to be in the range of $300,000-$500,000."
Legal fees and litigation expenses are well into the millions.
The revision was the first time the world's largest oil company had included litigation expenses in its spill-related charges, which now total more than $2 billion.
The State of Alabama estimates its litigation expenses at over $15 million.
He gave Green Fund a lot of money for litigation expenses.
More often than not, however, litigation expenses are not covered by insurance because it is usually the association that initiates the suit.
All litigation expenses connected with the lawsuit were paid from this account.