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BP seeks return of millions in Gulf spill damage payments

  • BP asked U.S. District Judge Barbier yesterday to make restitution of hundreds of millions of dollars in "erroneous" payments to Gulf coast businesses - plus interest and attorneys' fees - under its multibillion-dollar oil spill settlement.
  • BP said “a vast number" of claimants were "unjustly enriched" before the court wrote its new policy in May that reversed accounting rules on how certain cash-based businesses are compensated for losses related to the 2010 Gulf of Mexico spill.
  • As examples, BP cited a seller of animal skins who was overpaid by $14M and a construction company hundreds of miles away from the Gulf who received $8.4M; letting these awards stand uncorrected "would violate basic principles of fairness and equity," BP maintained.
  • Claimants' lawyers said it is just another attempt by BP to back out of its commitments.
Comments (30)
  • JBBanker
    , contributor
    Comments (97) | Send Message
     
    Judge Barbier should grant their request. BP should then be allowed to pursue both false claimant and their attorney for the settlement amount and costs incurred in collecting money (i.e. Attorney fees). Attorneys for claimants that do not return the money should be held liable for the money since the money in retrospect is not merited and erroneously paid out. Yes, I said even in retrospect Frey should be on the hook based upon the fact a "reasonable" and "rational" person would know that these individuals claims were bogus, BP was actively questioning the method for calculating claims and the judgement of Barbier to change the accounting. All funds should have been held in escrow by the plaintiff attorneys until these issues were resolved and they should be liable for not protecting BP's money. Thus, they paid it out to fraudsters then they are liable to BP. These attorneys amount to accessories to the fraud and should be disbarred if they are unable to collect from their clients!
    28 Jun, 08:44 AM Reply Like
  • Dale Korpi
    , contributor
    Comments (155) | Send Message
     
    It has been determined as to causation that it is on BP and others and now the devil in the details is how to measure the respective economic damages. BP's commercials were a model of social responsibility to restore the Gulf Coast and in the "we'll make it right" they trotted out the expert attorney with expertise to settle and administer the claims, however, the "right" is problematic and damage calculation approaches will remain contentious.

     

    Facts to substantiate the calculations are problematic and support may be stronger in some cases and range down to non existent in some cases. The fact not in dispute is that BP and others harmed the environment and disrupted the economic and social structure of the Gulf Coast.
    28 Jun, 10:17 AM Reply Like
  • dulwichman
    , contributor
    Comment (1) | Send Message
     
    the start of the real fight back. they will never give up on this claim
    28 Jun, 09:28 AM Reply Like
  • raykrv6a
    , contributor
    Comments (2688) | Send Message
     
    One thing for sure, the attorney's working the cases have to love the work and the easy income it's providing. Rules that work case after case standardize the claims process. Reminds of bankruptcy law firms that you see on TV.
    28 Jun, 09:38 AM Reply Like
  • DrP79
    , contributor
    Comments (1079) | Send Message
     
    BP tried to stop the payments BEFORE paying the claims asserting that the claims were fraudulent.

     

    It will be much more difficult to get the money back even if BP is correct
    28 Jun, 09:56 AM Reply Like
  • Lakeaffect
    , contributor
    Comments (1011) | Send Message
     
    As pointed out by Banker above, there are plenty lawyers who abandoned their ethics to enrich themselves at the expense of a tragic event. They made a travesty of the intent of the agreement, grabbing whatever they could like looters during a riot. The attornies who did this should be disbarred and stripped of their ill gotten gains. Claimants who grabbed more than their fair share of the compensation should be made miserable for the balance of their lives.

     

    BP should be supported in it's effort by all who are interested in doing something to restore the concept of civic duty by those who are supposed to be officers of the court.
    28 Jun, 10:17 AM Reply Like
  • King Rat
    , contributor
    Comments (648) | Send Message
     
    Millions of people suffered $100s of dollars in higher costs in the months following the disaster yet will never be able to file a claim. No equity for them.

     

    BP's "concern for equity" is an image deal. They want to play the victim card to the public. On the whole, BP is getting off very easy. Even with a handful of claims that appear dubious, BP is paying out billions less in money than the damage the company caused.

     

    End of story.
    28 Jun, 02:03 PM Reply Like
  • User 12931761
    , contributor
    Comment (1) | Send Message
     
    I really bleed for BP
    28 Jun, 02:59 PM Reply Like
  • rramp@shaw.ca
    , contributor
    Comments (6) | Send Message
     
    Make up your own reality, right? "Billions" just because you said so?
    29 Jun, 07:47 AM Reply Like
  • tayana
    , contributor
    Comments (8) | Send Message
     
    BP went overboard to make compensation - before being called to do so by the courts for what was the essentially the negligence of its sub contractors.
    28 Jun, 09:58 AM Reply Like
  • TFCAB
    , contributor
    Comments (1960) | Send Message
     
    Scammers and Scoundrels come out of the woodwork at the possibility and actually the high probability of free money. I saw it first hand having been at ground zero for Hurricane Andrew in'92. Saw people smash their own windows and destroy the insides of their own homes in order to claim "a total loss" on their insurance. People getting $250K checks for $50K worth of storm induced damage. Just one simple example.
    28 Jun, 10:14 AM Reply Like
  • SoldHigh
    , contributor
    Comments (1013) | Send Message
     
    BP has probably been ripped off by billions, not millions
    28 Jun, 11:07 AM Reply Like
  • nap.jerry
    , contributor
    Comments (54) | Send Message
     
    One thing seems to be missing in this situation--common sense. The judges involved seem to be totally lacking that attribute. Hurrah for the lawyers that are making the criminals that committed fraud pay for their crimes, including the lawyers. Disbar them, Quickly.
    28 Jun, 11:11 AM Reply Like
  • deercreekvols
    , contributor
    Comments (5402) | Send Message
     
    Judge Barbier has not ruled in BP's favor yet and I don't imagine that this will go in BP's favor either.

     

    Thank goodness (BP) has operations around the world. Good moves being made in Russia for long-term partnership with Rosneft.

     

    Long BP and not expecting much from Judge in LA who seems to have personal issue with BP.
    28 Jun, 11:28 AM Reply Like
  • rambler1
    , contributor
    Comments (442) | Send Message
     
    These awards are as sickening as the spill itself.
    28 Jun, 11:44 AM Reply Like
  • rjj1960
    , contributor
    Comments (1366) | Send Message
     
    How about asking for Billions back??? I called them no fewer then 4 times and told them these claims were a joke.
    28 Jun, 12:57 PM Reply Like
  • April May
    , contributor
    Comments (549) | Send Message
     
    Judge Barbier ordered all claims be paid based on BP's settlement terms that did NOT demand proof. I questioned that, but over and over I read that was how BP worded it. After that ruling, "everyone and his brother" came forward with bogus claims.
    28 Jun, 01:05 PM Reply Like
  • King Rat
    , contributor
    Comments (648) | Send Message
     
    People whining about fairness, answer two questions:

     

    What was the estimated total damage caused?

     

    What is the total amount of 'damages' that BP has been forced to pay?

     

    Now do the math and tell yourself who's ahead. People make bogus claims that the government has it in for BP, that BP is retreating from the US production market, yada yada. Wrong. BP's US operations have never been larger as a total amount or percentage of BP's total business. BP is stronger than ever thanks in large part to the current administration who has been more favorable to BP than the previous administration. Just don't let the truth interfere with your false indignation.
    28 Jun, 02:11 PM Reply Like
  • Teriee
    , contributor
    Comments (63) | Send Message
     
    Companies like BP should be glad they weren't put out of business PERIOD. The carelessness, ego based and greed initiated damage they have done from the spill will NEVER be really repaid. The damage is quite possibly permanent. I for one do not do any business associated with BP. A#######!!!!!!!
    28 Jun, 02:14 PM Reply Like
  • eilea
    , contributor
    Comments (141) | Send Message
     
    false claimants are false false claimants. You can't let that happen in a civilized world. People trying to take advantage of a bad situation to make money is not greed?
    28 Jun, 04:21 PM Reply Like
  • Shaduc
    , contributor
    Comments (1230) | Send Message
     
    "to take advantage of a bad situation to make money is not greed?"-- human nature!!
    28 Jun, 08:11 PM Reply Like
  • JANFA
    , contributor
    Comments (68) | Send Message
     
    No, it is greed!
    29 Jun, 07:29 AM Reply Like
  • maybenot
    , contributor
    Comments (3670) | Send Message
     
    Just the usual stuff.

     

    Hopefully BP will do one more strong dip before going higher, so I can buy more.

     

    Long BP
    28 Jun, 06:59 PM Reply Like
  • djkidm
    , contributor
    Comments (376) | Send Message
     
    I haven't invested in oil companies before, but from my perspective $BP looks like a good value in this market. Add in the dividend and it seems a no-brainer.

     

    I have it on my watch list, and would consider a position with a strong dip as well :-)
    28 Jun, 07:46 PM Reply Like
  • User 509088
    , contributor
    Comments (1024) | Send Message
     
    bp made the deal. they negotiated it. they signed on the dotted line.

     

    they're on the hook for it.

     

    they asked the judge to be let off their word, and the judge said no.

     

    it could have been much worse for bp without the deal, including criminal charges regarding the lost workers.

     

    slandering others because bp made the deal they made is just so republican.
    28 Jun, 09:54 PM Reply Like
  • Scrying Biotech
    , contributor
    Comments (1596) | Send Message
     
    Hahaaaa, that's funny! An oil company claiming entities have been "unjustly enriched."

     

    Priceless.
    28 Jun, 09:59 PM Reply Like
  • Patent News
    , contributor
    Comments (1321) | Send Message
     
    yes it does sound like standards were flawed but they are too late to do much.
    29 Jun, 02:49 AM Reply Like
  • Deja Vu
    , contributor
    Comments (1247) | Send Message
     
    Given that the entire sea floor of the gulf of mexico is dotted with vents releasing oil and natural gas and that there exists a whole anaerobic microbial chain eating that oil and gas, which perhaps explains the minimal to zero impact of the BP spill, its a total joke, these demands for "reperations". Don Obama's demands for a shakedown are laying down a blueprint for how behave like a mobster while occupying a government post.
    29 Jun, 09:20 AM Reply Like
  • machiavelli
    , contributor
    Comments (440) | Send Message
     
    ^^^ actually if you read any assessment of the BP spills damage on the eco-system there, it is quite horrific to anyone who cares about life in general.
    29 Jun, 02:05 PM Reply Like
  • stocknerd
    , contributor
    Comments (1268) | Send Message
     
    Money corrupts. I knew it would happen and always will. This is America, just a get a lawyer and sue. Laywers not concerned about justice this is money
    30 Jun, 12:48 AM Reply Like
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