Marine Link
Saturday, December 10, 2016

BP to Appeal Gulf Oil Spill Damages Ruling

May 21, 2014

BP Plc on Wednesday said it will ask the U.S. Supreme Court to review a court ruling concerning the 2010 Gulf of Mexico oil spill, which forces the company to pay some businesses for economic damages without the businesses having to prove the spill caused their losses.
 


On Monday, the 5th U.S. Circuit Court of Appeals in New Orleans refused to disturb a March ruling from a three-judge panel over how to compensate businesses.
 


BP (BP) has said paying such claims could push the estimated $9.2 billion cost of its settlement with those businesses, which the company helped negotiate, significantly higher.
 


"No company would agree to pay for losses that it did not cause, and BP certainly did not when it entered into this settlement," the company said. BP will ask the 5th Circuit not to require it to make business economic loss payments while it appeals.


(Reporting by Jonathan Stempel in New York, Editing by Franklin Paul)



 
Maritime Reporter Magazine Cover Nov 2016 - Workboat Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News