2010 Deepwater Horizon oil spill: US appeals court affirms BP multi-billion dollar settlement
Saturday 11 January 2014
A panel of the 5th US Circuit Court of Appeals has affirmed a federal judge's approval of a multi-billion dollar settlement between BP Plc and businesses and individuals who lost money and property in the 2010 Gulf of Mexico oil spill.
BP had supported the settlement agreement leading up to the December 2012 ruling by US District Court Judge Carl Barbier approving it. But the company has since argued the administration of the settlement is faulty because it allows claimants without actual damages to join in.
In the 2-1 decision yesterday, the appeals court panel rejected the arguments by BP. It noted that the company had failed to explain "how this court or the district court should identify or even discern the existence of 'claimants that have suffered no cognizable injury.'"
BP had originally projected that its settlement in the case would cost $7.8 billion (£4.7 billion). As of late October it had boosted this estimate to $9.2 billion (£5.6 billion), and said this sum could grow "significantly higher."
The case stems from the 2010 explosion of the Deepwater Horizon drilling rig and rupture of BP's Macondo oil well, which killed 11 people and triggered the largest-ever US offshore oil spill. The torrent fouled shorelines from Texas to Alabama.
Plaintiffs ranged from hotel owners to oyster gatherers.
Billions of dollars have already been paid out to claimants.
Board creates magnetic field to achieve lift
Like Madonna, Sister Cristina Scuccia's video is also set in Venice
Singer says the track was 'force-fed down people's throats'
techThe original free dating app will remain the same, developers say
Endangered species spotted in a creek in the Qinling mountains
Trend which requires crisps, a fork and a strong stomach is sweeping Mexico's streets
Some experiencing postnatal depression don't realise there is a problem. What can be done?
- 1 Jack the Ripper: Scientist who claims to have identified notorious killer has 'made serious DNA error'
- 2 Banksy arrest hoax: Internet duped by fake online report claiming artist's identity has been revealed
- 3 Drink alcohol and eat meat to improve male fertility - but cut down on coffee, studies suggest
- 4 Former East 17 frontman Brian Harvey turns up at Downing Street and 'demands to speak to Prime Minister'
- 5 The inventor of the Facebook 'like' button says he never made a 'dislike' button because he feared the 'unfortunate consequences'
Ukraine crisis: Donetsk 'tactical missile' explosion at factory sends blast wave across rebel-held city
Jack the Ripper: Scientist who claims to have identified notorious killer has 'made serious DNA error'
Oscar de la Renta dead: Legendary US fashion designer dies after long cancer battle aged 82
Banksy arrest hoax: Internet duped by fake online report claiming artist's identity has been revealed
Super-sized ships arrive in Britain: How big can they get?
Cameron is warned 'no possibility' of UK reducing immigration and that bid to bring in quota on migrant workers would be illegal
Residents should throw a street party and mix with immigrant neighbours, councils told
Russell Brand threatened with arrest after filming outside Fox News headquarters
London bus driver 'kicks gay couple off for kissing'
Lord Freud: Tory welfare minister apologises after saying disabled people are 'not worth’ the minimum wage
Lord Freud hangs on as MPs of all parties 'call for his head' over disability comments
iJobs Money & Business
£23000 - £26000 Per Annum: Clearwater People Solutions Ltd: Our client is curr...
£25 - 30k: Guru Careers: A Corporate Actions Administrator / Operations Admini...
£18 - 23k + Benefits: Guru Careers: We are seeking a Customer Service Executiv...
£60 - 65k + Benefits: Guru Careers: We are seeking a ASP.NET Web Developer / ....