BP Says Loss on Spill Claims Appeals Could Scuttle Settlement
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The settlement BP Plc reached last year with most private parties over the 2010 Gulf of Mexico oil spill could be scuttled if a U.S. appeals court doesn’t throw out the interpretation of payments being used by the claims administrator, the company said.
BP is fighting to avoid potentially billions of dollars in business economic-loss payments that are being made under what the company claims is a misinterpretation of settlement terms by Patrick Juneau, its oil-spill claims administrator.