Thursday, 4 April 2013

BP Oil Spill: Oil Giant Disputes Pay-Offs

The Deepwater Horizon rig burns up in this April 2010 photo
British oil giant BP plc  has disputed the amounts being paid out for compensation with regard to the DeepWater Horizon oil spill. The oil company claims that the arbitrator who is settling the case has been paying out 'fictitious' claims. The oil company says that the independent administrator is allowing businesses to claim excessively favourable revenues and costs for the periods before and after the April 2010 accident.
 The company filed to have an injunction to stop Louisiana lawyer Patrick Juneau from paying out the claims. On Monday, lawyers representing the plaintiffs sought to have the injunction request quashed on the grounds that BP to make its compensation calculations more favourable. The company has had two similar attempts quashed previously, the plaintiff's lawyers say.
In a filing made on Monday,
the plaintiffs' lawyers added that Mr. Juneau was just following the settlement agreement.
Two of the biggest beneficiaries of the payments are law firms and construction companies, the oil giant claims. In a rejoinder, the plaintiffs' lawyers say that BP chose not to exclude certain industries from the compensation plan.
The settlement dispute will be heard on Friday in a New Orleans court.
(Source: Ed Crooks,

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