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BP to fight on despite Gulf compensation setback

  • BP (BP) will continue its battle against "inflated, exaggerated or wholly fictitious" compensation claims related to the 2010 Deepwater Horizon disaster, the oil company said.
  • BP's comments come after the 5th U.S. Circuit Court of Appeals on Friday upheld Judge Carl Barbier's approval of a multibillion-dollar settlement agreement over the company's objections.
  • BP is fighting Barbier's ruling that it has to pay businesses that weren't directly affected by the disaster, which the firm says has cost it hundreds of millions of dollars in unjustified payments.
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Comments (6)
  • daphnex2
    , contributor
    Comments (130) | Send Message
     
    As Winston Churchill said "Never, never, never give up"
    13 Jan 2014, 12:20 PM Reply Like
  • dandyl1
    , contributor
    Comments (6) | Send Message
     
    What do you expect from our court system that allows corporations to buy our elections , there will never be another co. that will step up to the pump to try and do the right thing . BP has been screwed from day 1
    13 Jan 2014, 01:17 PM Reply Like
  • xrxh
    , contributor
    Comments (4) | Send Message
     
    My name is Neal, and I am involved with a claims company. BP has been trying to renege on a settlement agreement that they proposed, and agreed on. There were over 800,000 business adress's that were part of the settlement. It is my opinion, that BP never thought these companies would ever file, and now that they did, BP underestimated the amount of claims, they would be responsible for.
    13 Jan 2014, 04:22 PM Reply Like
  • dlc12345
    , contributor
    Comment (1) | Send Message
     
    BP is attempting to re-write the agreement they argued for. As with any other Class Action there are folks that benefit that should not. That's the exposure cost weighed against the consolidated litigation...which BP chose to avoid. BP created this fiasco now they should live up to their corporate responsibility, the orders of the courts and the agreement made to compensate the folks damaged by their reckless mistake. Perhaps they should have hired better lawyers from the beginning if they planned on dodging the facts.
    13 Jan 2014, 05:47 PM Reply Like
  • southpaw830
    , contributor
    Comments (2) | Send Message
     
    They relied on business owners to be ethical enough to not file a claim if their poor business performance had nothing to do with the spill. Of course, there are enough scumbags in the world that are looking for a free lunch and instead of allowing the heart of the settlement to shine through, the court is sticking it to BP. Anyone in the country that can show revenue declines from May-Dec of 2010 relative to the years 2007-2009 is eligible, which makes no sense. For doing the right thing and providing a response significantly greater than anything ever done before (look to Exxon-Valdez as a prior example) BP is being punished worse than if it had dug in its heels and fought every single claim tooth and nail over a prolonged period of time. Our society is so backwards.
    14 Jan 2014, 10:48 AM Reply Like
  • JZ0726
    , contributor
    Comments (5) | Send Message
     
    Among all the oil spills in history, BP is the company which is willing to take the full responsibility for Deepwater Horizon disaster in 2010 and offered the largest amount of compensation in dollar amount. BP is not trying to renegotiate the payment agreement but it simply fights for its right to dispute the payments to those who were initially not qualified for such a compensation.A lot of payments go to those who spent the money on"Escort Service" and other entertainments. Where is the justice?
    14 Jan 2014, 06:34 PM Reply Like
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