2010 Deepwater Horizon oil spill: US appeals court affirms BP multi-billion dollar settlement
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.A panel of the 5th US Circuit Court of Appeals has affirmed a federal judge's approval of a multi-billion dollar settlement between BP Plc and businesses and individuals who lost money and property in the 2010 Gulf of Mexico oil spill.
BP had supported the settlement agreement leading up to the December 2012 ruling by US District Court Judge Carl Barbier approving it. But the company has since argued the administration of the settlement is faulty because it allows claimants without actual damages to join in.
In the 2-1 decision yesterday, the appeals court panel rejected the arguments by BP. It noted that the company had failed to explain "how this court or the district court should identify or even discern the existence of 'claimants that have suffered no cognizable injury.'"
BP had originally projected that its settlement in the case would cost $7.8 billion (£4.7 billion). As of late October it had boosted this estimate to $9.2 billion (£5.6 billion), and said this sum could grow "significantly higher."
The case stems from the 2010 explosion of the Deepwater Horizon drilling rig and rupture of BP's Macondo oil well, which killed 11 people and triggered the largest-ever US offshore oil spill. The torrent fouled shorelines from Texas to Alabama.
Plaintiffs ranged from hotel owners to oyster gatherers.
Billions of dollars have already been paid out to claimants.
REUTERS
Subscribe to Independent Premium to bookmark this article
Want to bookmark your favourite articles and stories to read or reference later? Start your Independent Premium subscription today.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments