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Friday, Aug 23
BP claims deadline could be pushed back into 2015
- BP (BP) is set to face another setback in its attempt to limit the amount of compensation it's shelling out for the Gulf oil spill, with the deadline for claims set to be extended beyond April 2014, as provisionally set, into 2015.
- The new deadline will be six months after the legal appeals over the validity of the compensation settlement that BP agreed to have been resolved.
- Given that some claimants have filed legal briefs against the deal and that BP has appealed against the way the administrator is interpreting the terms of a compensation deal, it's anybody's guess when a new deadline might fall.
- BP believes that the administrator has been too loose in handing out payments, which has caused the company's costs to soar.