BP’s Oil Spill Deal Sours as Claims Add Billions to Cost

Posted by Bloomberg: Margaret Cronin Fisk, Brian Swint and Laurel Calkins on June 5th, 2013
Bloomberg: BP Plc’s $8 billion settlement with victims of the 2010 Gulf of Mexico spill may have hurt Europe’s second-largest oil company more than it helped. The company is relying on a U.S. appeals court to rein in awards by the settlement’s claims administrator for what it considers to be unreasonable demands, such as a $21 million payout to a rice mill 40 miles from the coast whose revenue rose the year of the spill. BP has protested in court filings that administrator Patrick Juneau’s interpretation......

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