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BP Urges Appeals Court to Reject Costly View of Spill Accord

BP Plc, with billions of dollars at stake, seeks to lower payments from its partial Gulf of Mexico oil spill settlement by persuading a federal appeals court to order stricter standards for evaluating claims.

The administrator, Patrick Juneau, is approving millions of dollars in “fictitious” payments for business losses based on what BP believes is a flawed interpretation of the agreement reached with victims’ lawyers in 2012, according to BP.