BP Plc’s bid to temporarily halt payments under its $9.2 billion oil-spill settlement so that heightened accounting and fraud safeguards can be established was rejected by a federal judge in New Orleans.
BP Plc Chief Executive Officer Bob Dudley saw his total pay triple in 2013 as the board’s renumeration head said the company had made progress recovering from the Macondo oil spill in the Gulf of Mexico.
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.
BP Plc. won the right to move ahead with implementing the medical-benefits portion of its $9.2 billion settlement of oil spill claims with Gulf Coast residents after an appeals court dismissed the remaining plaintiffs at their request.
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’s suspension from new government contracts and oil leases after the 2010 Gulf of Mexico oil spill should continue because the company hasn’t demonstrated it’s a responsible contractor, the U.S. said.
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.