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BP Wants Settlement Money Back

BP

I reported earlier this year, BP attempted To back out of a settlement the oil company agreed to in 2012. Company representatives signed off on an agreement that was designed to expedite the claims process, and defined eligibility criteria for payment of claims resulting from the 2010 blowout of its Macondo Well. The 5th US Circuit Court of Appeals denied the company’s appeal in May. Upstreamonline.com reports the oil giant has filed a motion in US District Court seeking recovery of hundreds of millions of dollars that have already been paid to claimants. The US Supreme court ruled in June BP must continue to pay claims during the appeals process.

 

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