US court rejects BP bid to restrict oil spill payments
A court in the United States has rejected British oil giant BP’s request to stop compensation payments to businesses which can’t prove injuries or damages stemmed from the Gulf of Mexico accident.
Two of three judges on a panel at the US Court of Appeals for the Fifth Circuit voted against the request.
This means BP could face paying billions more for compensation claims.
The oil firm said today it disagrees with the decision as it believes business economic loss (BEL) claimants are not “proper class members” under the terms of the settlement.
BP added it believes the settlement “cannot be upheld under the law” unless this “problem” is fully corrected.
An explosion at BP’s Deepwater Horizon rig in the Gulf of Mexico on 20 April 2010 killed 11 people and led to a massive oil leak.
As of 31 December 2012 the firm had spent more than $14 billion (£8bn) on the clean-up, response and compensation.
Article source: http://www.energylivenews.com/2014/03/04/us-court-rejects-bp-bid-to-restrict-oil-spill-payments/?utm_source=rss&utm_medium=rss&utm_campaign=us-court-rejects-bp-bid-to-restrict-oil-spill-payments