Appeals court orders review of Gulf spill settlement terms

10/3/2013 | Bloomberg

U.S. District Judge Carl Barbier must reassess his interpretation of the terms of BP's settlement deal with the individuals and businesses affected by the 2010 Gulf of Mexico oil spill, a federal appeals court ruled. The company claimed that millions of dollars in "fictitious" payments were approved by the program's administrator, Patrick Juneau. "Today's ruling affirms what BP has been saying since the beginning: Claimants should not be paid for fictitious or wholly nonexistent losses," said Geoff Morrell, a spokesman for BP.

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