BP spill claims administrator urges dismissal of lawsuit
The administrator of BP Plc's settlement with thousands of people and businesses who sued over the 2010 Gulf of Mexico oil spill urged a federal judge on Monday to end the company's lawsuit over how he determines damages claims.
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Found 1 month ago on channel
Reuters
BP challenges ruling on oil spill compensation
BP Plc on Friday asked a federal judge to temporarily halt an estimated $8.5 billion settlement with plaintiffs over the 2010 Gulf of Mexico oil spill, saying the claims administrator's decisions could give claimants "windfalls" and cost the oil company billions of dollars.
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Found more than 1 month ago on channel
Reuters
BP Warns of Rising Costs From Spill Settlement
(NEW ORLEANS) — BP is warning investors that the price tag will be “significantly higher” than it initially estimated for its multibillion-dollar settlement with businesses and residents who claim the 2010 oil spill in the Gulf of Mexico cost them money. The London-based oil giant estimated last year that it would spend roughly $7.8 billion to resolve tens of thousands of claims covered by the settlement agreement. But in a regulatory filing this week, BP PLC said businesses’ claims have been paid at much higher average amounts than it had anticipated. (MORE: BP Exec Back on the Stand in Oil Spill Trial) The company also said it can’t reliably estimate how much it will pay for unresolved business claims following a ruling Tuesday by the federal judge supervising the uncapped settlement. U.S District Judge Carl Barbier rejected BP’s interpretation of certain settlement provisions. Barbier upheld claims administrator Patrick Juneau’s interpretation of settlement terms that govern ...
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London Markets: Aggreko leads U.S. stocks higher; Aviva sinks
Aggreko PLC led the London benchmark higher on Thursday after a well-received earnings report, while investors also awaited the latest policy decision from the Bank of England.
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U.S. Justice, Gulf states crafting BP oil spill settlement deal: WSJ
The U.S. government and Gulf Coast states are considering offering BP Plc a deal under which it pays $16 billion to settle civil suits stemming from the deadly 2010 Deepwater Horizon explosion and oil spill, the Wall Street Journal reported on Friday.
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Found more than 1 month ago on channel
Reuters