BP Loses Bid to Require Proof of Losses in Spill Accord

BP Plc lost a bid to require businesses to provide proof their economic losses were caused by the 2010 Gulf of Mexico oil spill under a $9.2 billion settlement over the disaster.

U.S. District Judge Carl Barbier in New Orleans, overseeing the settlement of lawsuits spawned by the blowout of BP’s Macondo well, found the London-based oil company would have to live with its agreement to pay billions of dollars in business losses tied to the disaster. An appeals court ordered Barbier in October to reexamine the accord’s terms to ensure claimants weren’t receiving improper payouts.