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"Not A Penny" of the Up To $18 Billion from BP's Oil Spill Fine to Go To Victims

September 12, 2014, 8:42 am

“BP hit with punitive damages” and “BP may be liable for $18 Billion in additional damages” were the headlines in recent days with the MDL court's comprehensive 153 page opinion stemming from the oil spill in the Gulf of Mexico over four years ago. But is that the bottom line? No. It is what the rest of the opinion says, and doesn’t say, that matter most in the long run.


BP's Recklessness Caused Gulf Oil Spill, U.S. Judge Rules

September 4, 2014, 9:30 am

A U.S. judge has ruled that BP's recklessness caused 2010's massive Gulf oil spill, a move that could cost the company billions. Earlier this week Halliburton, the company in charge of sealing the completed Deepwater Horizon well that spewed millions of gallons of oil into the Gulf, agreed to pay $1.1 billion to settle claims arising from its negligence.


New Deepwater Horizon claims calculation formula could sharply reduce future settlement payments

August 11, 2014, 2:42 pm

An arcane change to the formula that determines awards for settlement of BP oil spill claims may diminish the size of future damage awards, leading some in the trial bar to say that senior plaintiffs’ attorneys who brokered the settlement with BP are more interested in preserving their $660 million payday than in protecting the rights of victims still awaiting payment.


BCA releases comments on state of affairs in BP Oil Spill case and changes to the class settlement (Policy 495)

July 30, 2014, 12:51 pm

The much troubled BP oil spill class settlement has suffered another major blow with a change in how a loss is calculated for paying a claimant. This new revision to the agreement, called Policy 495, once again materially alters a settlement agreement that was already plagued with a myriad of implementation problems, problems so great collectively that it should never have been approved in the first place.


Victims say they have no recourse as BP ends internal claims program

July 14, 2014, 9:46 am

Four years after the Deepwater Horizon explosion devastated the Gulf of Mexico, killing 11 and gushing more than 200 million gallons of oil into the water, the company found responsible has shut down an internal claims program utilized by small business owners, injured rig workers and even casino companies affected by the disaster.


Supreme Court: BP must pay oil spill claims during appeal

June 10, 2014, 3:53 pm

Originally posted by Janet McConnaughey - Associated Press - June 9, 2014

 

NEW ORLEANS — The U.S. Supreme Court says BP must continue paying claims from a fund established after the 2010 Gulf of Mexico oil spill while the company appeals terms of its settlement with some businesses.

The justices on Monday let stand without comment lower court refusals to halt payments while BP PLC appeals lower court rulings that businesses don't have to prove they were directly harmed by the spill to collect money.


BP Rejected by Supreme Court on Gulf Payments Reprieve

June 9, 2014, 11:08 am

Originally posted by Greg Stohr - Bollomberg - June 9, 2014

BP Plc (BP/) must pay potentially hundreds of millions of dollars in claims after the U.S. Supreme Court refused to halt disputed payments stemming from the 2010 Gulf of Mexico oil spill.

Rejecting a request from BP, the justices today said they wouldn’t put a hold on lower court rulings that require the oil company to begin making the payments, part of a $9.2 billion accord.


Lawyers ask Scalia to throw out BP’s bid to stall spill payments

June 2, 2014, 4:51 pm

Originally posted by Collin Eaton - Houston Chronicle - June 2nd, 2014

HOUSTON – Plaintiffs’ attorneys on Monday called BP’s latest attempt to suspend some oil spill payments “buyer’s remorse” for its multibillion-dollar settlement and argued the oil company’s claims of fraud are bogus.

In a court filing on Monday, Louisiana attorneys asked Supreme Court Justice Antonin Scalia to throw out the oil company’s request to restore a freeze on payments to thousands of businesses that  say the 2010 Gulf of Mexico disaster wrecked the coastal economy and inflicted financial harm on them.


BP Loses Bid to Stall Spill Payments During Appeal

May 27, 2014, 3:54 pm

Originally posted by Margaret Cronin Fisk and Laurel Calkins - Bloomberg News - May 27th, 2014

BP Plc (BP/) can’t delay writing checks for hundreds of millions of dollars in damage claims while it asks the U.S. Supreme Court to review disputed payments in its $9.2 billion accord over the 2010 Gulf of Mexico oil spill.

The U.S. Court of Appeals (1007L:US) in New Orleans today rejected BP’s request to extend a halt on payments to businesses that can’t directly prove they were damaged by the spill while the company seeks review by the Supreme Court.


Payments from BP claims settlement could resume soon — or maybe not

May 21, 2014, 10:22 am

Originally posted by Richard Thompson - New Orleans Advocate - May 21, 2014

 

Now that a federal appeals court in New Orleans has decided not to reconsider its stance that businesses can collect money from BP’s multibillion-dollar oil-spill settlement fund without having to show that the 2010 Deepwater Horizon disaster actually caused their losses, some experts following the case believe it is only a matter of days before long-stalled payments of certain claims can resume.

Other experts, though, say the ongoing legal challenges by BP must finish working their way through the courts first.



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