Court rejects BP's Gulf spill settlement appeal

01/13/2014 | Bloomberg Businessweek · United Press International · BBC

BP lost its appeal to stop payments under the $9.2 billion partial settlement of private-party claims endorsed by U.S. District Judge Carl Barbier when the 5th U.S. Circuit Court of Appeals in New Orleans upheld the ruling on Friday. "We cannot agree with the arguments raised by the objectors or BP. Neither class certification nor settlement approval are contrary" to U.S. law, said U.S. Circuit Judge W. Eugene Davis. BP spokesman Geoff Morrell said the company "will continue to press its position on the proper interpretation of the settlement agreement's provisions requiring a causal nexus between a claimant's injury and the spill."

View Full Article in:

Bloomberg Businessweek · United Press International · BBC

Published in Briefs: