Email story to a friend Email story to a friendPrintable version Printable version

US: BP kicks back over 'fictitious' compensation pay-outs

Date: 17 Mar 2013

BP Hellas

BP is taking legal action to prevent administrators for the Deepwater Horizon oil spill compensation fund from paying out to people and companies that it said had suffered no damage.

The company had agreed to pay compensation to around 100,000 people and companies for damages arising from the massive oil pollution disaster. But it believes that lawyers are making 'absurd' generous pay-outs.

It quoted the example of $21m given to an inland Louisiana firm that had earned higher profits during the year of the oil spill than in previous years. It said that it had not agreed to pay for fictional losses.

Claimants' lawyers said that BP had underestimated the number of people and businesses that would qualify under the formula that they had agreed to but that, nevertheless, that was the formula they had signed up for.


You must be logged in to add comments

No comments added - be the first!

Similar news stories

From the same country

Other stories about this company

Currently most popular stories