BP Moves To Block Settlement Payouts
A federal judge will hear arguments today on BP’s request for an order to block possible billions in settlement payouts to gulf coast businesses who claim the Deepwater Horizon disaster cost them money. U.S. District Judge Carl Barbier has already upheld court-appointed claims administrator Patrick Juneau’s interpretation of settlement terms governing payments to businesses affected by the spill.
BP contends that Juneau made decisions earlier this year that expose the company to fictitious losses outside the intended terms of the settlement.
Private plaintiffs’ attorneys claim BP’s allegations are baseless, and accused the company of trying to avoid living up to its commitment.