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BP’s Oil Spill Deal Sours as Claims Add Billions to Cost

Posted by Bloomberg: Margaret Cronin Fisk, Brian Swint and Laurel Calkins on June 5th, 2013
Bloomberg: BP Plc’s $8 billion settlement with victims of the 2010 Gulf of Mexico spill may have hurt Europe’s second-largest oil company more than it helped. The company is relying on a U.S. appeals court to rein in awards by the settlement’s claims administrator for what it considers to be unreasonable demands, such as a $21 million payout to a rice mill 40 miles from the coast whose revenue rose the year of the spill. BP has protested in court filings that administrator Patrick Juneau’s interpretation...
Posted in Water Conservation Comments Off on BP’s Oil Spill Deal Sours as Claims Add Billions to Cost

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