BP Oil-Spill Settlement Approval Upheld by Appeals Court
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BP Plc’s $9.2 billion partial settlement over the 2010 Gulf of Mexico oil spill was upheld by an appeals court over the company’s protest that the deal wasn’t valid unless a claims-payment dispute was resolved in its favor.
The U.S. Court of Appeals in New Orleans yesterday also upheld a lower-court judge’s certification of the settling plaintiffs as a class and rejected arguments that the agreement couldn’t be approved because it inconsistently compensated victims with the same types of economic injuries.