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Appeals Court Orders BP To Abide By Oil-Spill Settlement

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March 4, 2014

LONDON--BP Plc was told by a federal appeals court to abide by terms of a $9.2 billion settlement with victims of the Gulf of Mexico (GoM) oil spill after failing to satisfy judges that a claims administrator is misinterpreting the deal.

BP, Europe’s second-largest oil company, must resume paying millions of dollars in business-loss claims that were temporarily halted in December while the company fought to block payments over losses not directly linked to the worst offshore spill in U.S. history, the U.S. Court of Appeals in New Orleans said ...

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