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11:20 am
Sat June 28, 2014

BP Asking Court To Order Some Claim Repayments

BP is stepping up efforts repayment of claims it finds unjustified.

The company is battling the system established to cover damage caused by BP’s oil spill four years ago in the Gulf of Mexico.

BP says businesses have unjustly received hundreds of millions of dollars in damage claims. It’s asking a federal judge in New Orleans to order restitution — plus interest.  

The company says a re-calculation formula the court approved in May should be applied retroactively. The court revised the accounting process at BP’s request. But opponents say BP has told the Supreme Court it has no practical way to recover the money, and the company signed off on the payments.

BP is also asking the Supreme Court to review the business claims process. It says businesses can be unfairly paid damage claims without proving a direct link to the spill.