US court upholds BP settlement for Gulf oil spill
Published on Jan 11, 2014 11:29 AM
WASHINGTON (AFP) - A US federal appeals court upheld a multibillion-dollar settlement between BP and coastal residents and businesses hit by the company's massive Gulf of Mexico oil spill in 2010.
The British energy giant reached a US$7.8 billion (S$9.87 billion) settlement in 2012 with thousands of claimants hit by the worst environmental disaster in US history.
But it had been challenging the way Mr Patrick Juneau, a court-appointed administrator of claims, calculates companies' compensation for lost profits.
The 5th US Circuit Court of Appeals ruled that US District Judge Carl Barbier was correct in rejecting a BP bid to require companies to prove that their losses were directly linked to the spill before getting a payout.
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