BP to Ask Judge Today to Halt Spill Settlement Payments
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BP Plc is seeking to block the administrator handling its $8.5 billion settlement over the 2010 oil spill from paying certain claims, contending his decisions may cost the company billions more than expected.
The company is scheduled to ask U.S. District Judge Carl Barbier in New Orleans for an injunction halting certain payments at a hearing today. Settlement administrator Patrick Juneau’s decisions have already exposed BP “to hundreds of millions of dollars in fictitious ‘losses’ that were never contemplated by the agreement,” the London-based oil company said in court papers last month.