BP Plc asked an appeals court for an injunction to stop some payments under a $9.2 billion settlement tied to the 2010 Gulf of Mexico oil spill, saying the judge overseeing the case ignored the court’s mandate to review claims.
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.
Lawyers for as many as 10,000 potential plaintiffs pursuing claims over BP Plc’s 2010 Gulf of Mexico oil spill said their clients today will opt out or reject the company’s $7.8 billion settlement reached in March.
BP Plc’s proposed $7.8 billion partial settlement of claims arising from the 2010 Gulf of Mexico oil spill should be given preliminary approval, a lawyer suing the company told the judge overseeing the litigation.
BP Plc ’s $20 billion oil spill fund, established at the request of U.S. President Barack Obama , may not stop more than 230 lawsuits filed by people and businesses harmed by the worst environmental disaster in U.S. history, a judge said.
BP Plc’s oil-spill claims administrator shouldn’t be allowed to extend a settlement to cover the claims of losses caused by the Obama administration’s deep-water drilling ban, the company told a court.
R. Allen Stanford’s jury, a day after finding the Texas financier guilty of leading a $7 billion international fraud, will continue hearing evidence on federal prosecutors’ request that he forfeit $300 million in assets.
U.S. citizens and residents with UBS AG accounts are racing the clock to disclose their secret holdings to the Internal Revenue Service after the Swiss Parliament ratified an agreement to surrender the names of 4,450 bank clients, tax lawyers said.