BP Asking US Supreme Court To Modify Claims Process
BP is asking the US Supreme Court for relief from a damage claim process enacted after the 2010 oil spill in the Gulf of Mexico. The oil company has lost several court battles to modify the deal.
BP says it’s unfair that it must pay businesses for damages when those companies are not required to prove they were directly harmed by the oil spill.
Payouts have been on hold since last year while the legal case made its way through federal courts. The company has lost every attempt to argue the deal was unfair.
Supporters of staying with the claims process say BP agreed to the arrangement and can’t get out of it because it’s costing more than it anticipated. BP initially estimated it would cost nearly $8 billion to resolve damage claims.
It’s asking the Fifth Circuit Court of Appeals to keep payouts on hold while the Supreme Court decides if it will hear the case.