Arab Today, arab today bp fights \feeding frenzy\ of us oil spill claims
Last Updated : GMT 10:15:39
Arab Today, arab today
Arab Today, arab today

BP fights \'feeding frenzy\' of US oil spill claims

Arab Today, arab today

Arab Today, arab today BP fights \'feeding frenzy\' of US oil spill claims

Washington - AFP

BP asked a US appeals court on Monday to scuttle a \"feeding frenzy\" of \"fictitious\" compensation claims stemming from the 2010 Gulf of Mexico oil spill. The British energy giant reached a $7.8 billion settlement last year with thousands of people and businesses hit by the worst environmental disaster in US history. It warned that sum won\'t be enough to pay all the claims if the court-appointed administrator of the settlement continues to award \"excessive and unwarranted\" compensation to claimants. At issue is how the administrator accounts for lost revenues and whether claimants should be allowed to pick and choose which periods to use as a benchmark. \"Not only is the claims administrator\'s misinterpretation contrary to the plain language of the settlement agreement and the intent of the parties, but it has ignited a feeding frenzy among trial lawyers attempting to secure money for themselves and their clients that neither deserves,\" Geoff Morrell, BP\'s head of US Communications, said in a statement. \"We are asking the Fifth Circuit to follow established legal principles of contract law and interpret the agreement as written and intended: paying only those claimants who suffered actual losses.\" In a brief filed before oral arguments were held Monday, BP argued that more than two thirds of large claims were based on \"fortuitously timed\" accounting rather than actual lost profits. It cited a number of cases in which businesses that saw their profits rise the year of the spill nonetheless got big payouts, such as $21 million awarded to a rice mill in Louisiana and $9.7 million awarded to a construction company in northern Alabama which didn\'t even do business on the coast. Altogether, BP said the \"improper\" awards already amount to hundreds of millions of dollars and \"could easily climb into the billions.\" BP\'s request to reinterpret the rules was initially rejected by the federal judge overseeing the thousands of lawsuits filed in the wake of the deadly explosion aboard the Deepwater Horizon drilling rig. The appeals court gave no indication of when it will rule on the matter. It took 87 days to cap BP\'s runaway well. The disaster killed 11 workers, blackened beaches in five states and crippled the region\'s tourism and fishing industries in a tragedy that riveted the United States. BP spent more than $14 billion on the response and cleanup and has paid another $10 billion to businesses, individuals and local governments that did not join the class action lawsuit. The energy giant also pleaded guilty in November to 11 counts of felony manslaughter in a $4.5-billion deal to settle criminal charges.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today bp fights \feeding frenzy\ of us oil spill claims Arab Today, arab today bp fights \feeding frenzy\ of us oil spill claims

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today As Olympics loom, China plunges into snow biz

GMT 10:08 2017 Tuesday ,28 February

As Olympics loom, China plunges into snow biz
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Kalam Nawaem made a difference in social issues

GMT 06:43 2017 Tuesday ,28 February

Kalam Nawaem made a difference in social issues

GMT 21:32 2017 Friday ,24 February

Dubai announces crude oil price for May

GMT 13:37 2017 Thursday ,23 February

Oman oil price rises 30 cents

GMT 05:33 2017 Thursday ,23 February

Oil slips but close to multi-week high

GMT 17:44 2017 Wednesday ,22 February

Gasoline 98 octane price surges LL100
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Parliament considers solutions to overpopulation

GMT 20:27 2017 Monday ,27 February

Parliament considers solutions to overpopulation
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Aspires present the story of Egypt’s first president

GMT 06:18 2017 Sunday ,26 February

Aspires present the story of Egypt’s first president
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 06:28 2017 Tuesday ,28 February

Dumbphones survive rise of the smartphone

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday