BP Seeks Restitution of Some Gulf Oil-Spill Claims
September 03 2015 - 9:59AM
Dow Jones News
Associated Press
NEW ORLEANS---- BP is going back to a federal appeals court in a
case involving businesses' damage claims from the 2010 oil spill in
the Gulf of Mexico.
The oil giant wants restitution of some of the money it paid in
claims to businesses as part of a 2012 settlement. BP eventually
won a revision in the way losses were calculated after arguing the
settlement claims administrator wasn't correctly matching
business's revenues and expenses.
Now, BP is seeking restitution and interest on some of the money
paid out prior to October 2013----before the revision was approved.
In court documents, the company says hundreds of millions of
dollars are at stake.
A three-judge panel of the Fifth U.S. Circuit Court of Appeals
will hear arguments Thursday. A ruling isn't expected
immediately.
Copyright 2015 Associated Press
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(END) Dow Jones Newswires
September 03, 2015 09:44 ET (13:44 GMT)
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