Skip to content
Subscriber Only

BP Seeks to Halt Some 2010 Gulf Oil-Spill Settlement Payments

BP Plc asked a judge to halt some payments under the $8.5 billion Gulf of Mexico oil-spill settlement, claiming the administrator is misinterpreting damages claims and increasing the cost to the company.

As a result of policy decisions on certain business economic-loss claims by court-appointed administrator Patrick Juneau, “BP is already exposed to hundreds of millions of dollars in fictitious ‘losses’ that were never contemplated by the agreement,” London-based BP’s attorneys said in papers filed yesterday in federal court in New Orleans.