BP Challenges Terms of Settlement

By: Associated Press
By: Associated Press

B.P. is challenging the terms of its settlement in the 2010 Gulf Oil Spill.

A federal appeals court began hearing arguments in the case on Monday.

B.P. wants the court to overturn a federal judge’s ruling, upholding a court-appointed claims administrator’s interpretation of the settlement.

The oil company claims the administrator has let thousands of businesses receive hundreds of millions of dollars in payments for inflated and non-existent losses.

Lawyers for the businesses contended B.P. underestimated how many claimants would qualify.

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