BP Plc was told by a federal appeals court to abide by terms of a $9.2 billion settlement with victims of the Gulf of Mexico oil spill after failing to satisfy judges that a claims administrator is misinterpreting the deal.
BP Plc lost a bid to have a judge suspend $1.3 billion in payments to seafood-industry workers who are part of the 2010 Gulf of Mexico oil spill settlement because of alleged improprieties by a lawyer involved in the accord.
The trial that will determine the extent of any liability London-based BP Plc and its partners must face for the April 2010 Gulf of Mexico oil spill is set to begin today in federal court in New Orleans.
BP Plc delayed efforts to cap its Macondo well in 2010 by misrepresenting how much oil was gushing into the Gulf of Mexico, lawyers for spill victims said, urging a judge to find the company grossly negligent.
BP Plc persuaded an appeals court to order a re-examination of key terms of the 2010 Gulf of Mexico oil-spill settlement that the company said could have cost it billions of dollars in improper payouts.
BP Plc’s $9.2 billion partial settlement over the 2010 Gulf of Mexico oil spill was upheld by an appeals court over the company’s protest that the deal wasn’t valid unless a claims-payment dispute was resolved in its favor.
How much BP Plc will pay for the 2010 explosion of a Gulf of Mexico oil rig that killed 11 people and caused the largest offshore spill in U.S. history may rest with a former maritime lawyer who began his career representing sailors in personal-injury cases.