APNewsBreak: BP wants to end future loss claims

NexusFi · 2011-07-08T14:12:28-04:00

NEW ORLEANS (AP) -- BP is arguing that most victims of last year's Gulf oil spill should not get any more payouts for future losses because the hardest-hit areas are recovering and the economy is growing. The British oil company argues its case in a 29-page document made public Friday and filed with the Gulf Coast Claims Facility. The $20 billion fund is responsible for paying for damages from the spill. The company says the fund should end payments for future losses to everyone, except in limited cases …

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Updated July 8, 2011

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APNewsBreak: BP wants to end future loss claims

July 8th, 2011, 02:12 PM	#1 (permalink)
kbit Aurora, Il USA Elite Member Experience: Advanced Platform: TradeStation Trading: futures Posts: 5,854 since Nov 2010 Thanks Given: 3,295 Thanks Received: 3,364	NEW ORLEANS (AP) -- BP is arguing that most victims of last year's Gulf oil spill should not get any more payouts for future losses because the hardest-hit areas are recovering and the economy is growing. The British oil company argues its case in a 29-page document made public Friday and filed with the Gulf Coast Claims Facility. The $20 billion fund is responsible for paying for damages from the spill. The company says the fund should end payments for future losses to everyone, except in limited cases for oyster harvesters. The company had already argued that fund administrator Ken Feinberg's formula for determining final payments artificially inflates future expected losses.

Last Updated on July 8, 2011