BP Loses Major Court Fight Over Claims Payments

BP has lost a major court fight over claim payments resulting from the 2010 blowout of its Macondo well off the Louisiana coast. We reported in March, the oil giant was trying to have a 2012 settlement, which the company had agreed to, thrown out. Wwltv.com reports, the US 5th Circuit Court of Appeals will not reconsider BP's appeal.

“This is a major step. Till we got this ruling, everything was on hold. So at least the ball is definitely moving forward now.”
- Court-appointed claims administrator, Patrick Juneau.

Claims payments have been on hold for the past eight months. There will be a seven day delay until the court officially issues its ruling. BP still has the option of taking its case to the US Supreme Court.