"Hatfields & McCoys" star Kevin Costner sued by Stephen Baldwin over company that helps clean up after oil spills
Kevin Costner and Stephen Baldwin are preparing to face off against each other — and it's not for a movie.
"Hatfields & McCoys" actor Costner and "The Usual Suspects" star Baldwin are engaged in a legal battle that will find them testifying against each other in a trial in U.S. District Court in New Orleans.
According to a 2010 complaint filed by Baldwin and his friend and partner Spyridon C. Contogouris, the pair entered into an agreement in early 2010 with Costner and his business partner, Patrick Smith, to market the technology that Costner had developed to separate oil and water in the event of oil spills.
The pair's claim alleges that, after the April 2010 Deep Horizon oil spill in the Gulf of Mexico, the technology saw a surge of interest, with BP ordering $52 million worth of the merchandise to help deal with the spill, delivering an $18 million deposit.
Baldwin and Contogouris decided to sell their interests in the company, but according to the complaint, they were kept in the dark about BP's order, and they should have received a lot more for their shares, given the financial windfall. (The suit claims that Baldwin and Contogouris received $500,000 and $1.4 million, respectively, for their interests in the company.)
Moreover, the suit accuses Costner and Smith of illegally using funds from the company, Ocean Therapy Solutions, to buy out Baldwin and Contogouris' stakes in the company.
Costner has filed his own counterclaim in the matter, alleging breach of contract.
Costner and Baldwin are both scheduled to testify at the trial, which is expected to last approximately two weeks.
A spokesman for Costner had no comment for TheWrap, A representative for Baldwin has not yet responded to TheWrap's request for comment.
Pamela Chelin contributed to this report.