BP Plc reached settlements to resolve billions of dollars of claims from the 2010 Gulf of Mexico oil spill, and asked a U.S. judge for a long delay in any trial over remaining disputes stemming from the disaster
BP Plc reached settlements to resolve billions of dollars of claims from the 2010 Gulf of Mexico oil spill, and asked a U.S. judge for a long delay in any trial over remaining disputes stemming from the ...
BP Plc faces billions of dollars in additional payments after failing again to convince an appeals court that the company is being forced to pay claims that aren’t directly related to the 2010 Gulf of Mexico oil spill.
The decision leaves BP with two options — pay claims the company has called “fictitious,” or appeal further to the U.S. Supreme Court. Paying these claims will cost additional billions of dollars, BP has said in court filings. Payments for disputed business economic losses have been on hold while BP appealed.
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.
BP said the program’s administrator, Patrick Juneau, was approving millions of dollars in “fictitious” payments to businesses for economic losses based on what BP called a flawed interpretation of the agreement reached with spill victims’ lawyers in 2012.
NEW ORLEANS – The U.S. Justice Department reached a US$1.4-billion settlement Thursday with Transocean Ltd., the owner of the drilling rig that sank after an explosion killed 11 workers and spawned the massive 2010 oil spill in the Gulf of Mexico.
WASHINGTON: BP Plc will pay more than $20 billion in fines to resolve nearly all claims from its deadly Gulf of Mexico oil spill five years ago, marking the largest corporate settlement of its kind in US history, Attorney General Loretta Lynch said on Monday. The agreement, first outlined in July, adds to the $43.8 billion BP had previously set aside for criminal and civil penalties and cleanup costs. The company has said its total pre-tax charge for the spill is now around $53.8 billion.
BP Plc lost a motion to dismiss the issue of a potential finding of gross negligence, which could trigger fines as much as US$17.6-billion, in the trial over its role in the 2010 Gulf of Mexico oil spill.
BP lawyer Andrew Langan asked for a partial ruling Monday as the lawyers for the plaintiffs suing the company rested their case.
“We don’t think there has been a finding of gross negligence” against BP, Langan told U.S. District Judge Carl Barbier in New Orleans, who is conducting the nonjury trial.