BP challenges ruling on oil spill compensation

Image
Reuters
Last Updated : Mar 16 2013 | 3:20 AM IST

REUTERS - BP Plc on Friday asked a federal judge to temporarily halt an estimated $8.5 billion settlement with plaintiffs over the 2010 Gulf of Mexico oil spill, saying the claims administrator's decisions could give claimants "windfalls" and cost the oil company billions of dollars.

A filing in federal court in New Orleans said BP would be "irreparably harmed" without relief from the court.

A judge ruled March 5 that BP must keep paying certain types of oil spill compensation in much larger amounts and to more parties than the company had anticipated. (Reporting By Jonathan Stempel in New York and Kristen Hays in Houston)

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Mar 16 2013 | 3:05 AM IST

Next Story