Judge rules businesses don't have to return BP payouts
SEAFOODNEWS.COM [Dow Jones] - September 25, 2014 -
NEW ORLEANS, A federal judge said Wednesday that BP must stand by the agreement it made with the companies it compensated for losses blamed on the 2010 Gulf oil spill.
The oil giant had argued that a flawed funding formula enabled nearly 800 businesses to overestimate their spill-related claims. About 150 claimants should return a total of $185 million, and overpayments to the rest haven't been calculated, attorney Kevin Downey argued.
U.S District Judge Carl Barbier wasn't persuaded, thwarting BP's latest attempt to control potential liabilities now approaching $50 billion.
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