BP (NYSE:BP) Owes Millions to Oil Spill Contractors Say Companies

A number of companies hired by BP (NYSE:BP) in various capacities to clean up the Gulf of Mexico oil spill, claim together they are owned millions for their work.

Most of the companies making claims are those hired by contractors BP had enlisted for help.

In some cases BP has paid their contractor but the contractor allegedly hasn't paid their subcontractors.

BP spokeswoman Heidi Feick said, "BP has urged its prime contractors to meet their contractual obligations to subcontractors and to timely resolve any issues as a priority."

The majority of the alleged money owed is "retainage," which means payment is withheld until the quality of the work of a contractor is confirmed. Normally that's paid within a period of two weeks of when the work is completed.

Some of the companies claim they've been waiting months to get paid.