BP Faces Billions in Spill Payments After Court Upholds Deal
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BP Plc faces billions of dollars in additional payments after failing again to convince an appeals court that the company is being forced to pay claims that aren’t directly related to the 2010 Gulf of Mexico oil spill.
The decision leaves BP with two options -- pay claims the company has called “fictitious,” or appeal further to the U.S. Supreme Court. Paying these claims will cost additional billions of dollars, BP has said in court filings. Payments for disputed business economic losses have been on hold while BP appealed.