SCOTUS Rejects BP’s Settlement Challenge



On Monday, the Supreme Court rejected BP’s challenge to its settlement to compensate victims of its 2010 offshore oil spill, the largest in U.S. history. The company claimed that its 2012 settlement has been interpreted to allow business to receive compensation without having to prove the BP leak caused damages.

The Supreme Court’s refusal to hear BP’s appeal means the oil giant will have to continue with its payments. So far, BP has paid $2.3 billion in business economic loss claims out of $4.25 billion in total compensation.

The company has set aside $43 billion to resolve all claims. Read more.

{Andy Newscenter}


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