Supreme court rejects BP challenge to gulf spill settlement

[Dougz]

[Quote]WASHINGTON (Reuters) - The U.S. Supreme Court on Monday rejected BP's challenge to its multibillion-dollar settlement agreement over the 2010 Gulf of Mexico oil spill, which the oil giant complained has allowed payouts to some businesses that are unable to trace their losses to the disaster.

The court's decision not to hear the London-based company's appeal is the latest setback for BP, which is trying to limit payments over a disaster that killed 11 people and triggered the largest U.S. offshore oil spill.

The action, disclosed in an unsigned order, means BP must make the payments as it continues to deal with the spill's aftermath.

BP signed a 2012 settlement agreement to compensate businesses claiming financial losses due to the spill. But BP has since argued the agreement has been interpreted improperly by Patrick Juneau, the settlement fund's court-appointed administrator, forcing it to pay businesses that could not show damages.[/Quote]

[url]http://www.reuters.com/article/idUSKBN0JM1KR20141208?irpc=932[/url]

[ewitwins]

Ahaaaaa

Nice

[Sableye]

isn't the british government still pretty pissed at our, essentially shake down of BP (not that they don't deserve it, screwing up so colossally)

[ubermensch]

I'm sure I remember reading somewhere that BP was just used as a scapegoat for a US company's major screw up. No wonder they're pissed off.

[BuffaloBill]

[QUOTE=UberMensch;46674270]I'm sure I remember reading somewhere that BP was just used as a scapegoat for a US company's major screw up. No wonder they're pissed off.[/QUOTE]

My dad works for shell, he's been called in on almost every major accident involving oil refineries and the likes the past decade. BP is notorious for skimping on/skipping out on security and maintenance which constantly results in accidents due to poor maintenance.

It's possible BP is being used as a scapegoat, but with their track record it's "extremely unlikely" according to my dad.

[ROFLBURGER]

I did not know the BP oil spill killed people. All media reports just focused on the Enviromental disasters or else I would've known about it.

[Col. Buggernuts]

[QUOTE=Sableye;46671224]isn't the british government still pretty pissed at our, essentially shake down of BP (not that they don't deserve it, screwing up so colossally)[/QUOTE]Afaik BP is roughly equally owned by American and British investors, with the remainder being European. Probably why it stopped being called British Petroleum a while ago. Afaik the British government's complaint was of Obama referring to the company as British Petroleum.