Just one year after agreeing to a multi-billion dollar settlement with victims of the 2010 Gulf of Mexico BP oil spill, BP is aggressively challenging the terms of the deal in a legal strategy that could backfire.
The British oil giant has pushed for more than one review by the 5th Circuit Court of Appeals, challenging that the BP oil spill claims system approved by the U.S. District Court Judge Carl Barbier has been overpaying for damages from the offshore disaster.
The argument put forth by BP directly questions decisions made by Barbier, who presided over the settlement and then approved claim terms. Barbier is also handling a separate government case against BP.
BP currently expects the settlement to cost close to $9.6 billion, almost $1.8 billion above the initially estimated $7.8 billion. The oil producer has provisioned $42 billion to pay for cleanup and other costs since the explosion of the Deepwater Horizon oil drilling platform.
In their challenge, BP is alienating the very judge who is going to determine their liability in the separate court case. It is a decision that many are questioning.
Barbier himself has referred to BP’s efforts as “deeply disappointing” and has said BP is trying to “disregard terms of the Settlement Agreement.”
If your business was impacted by the April 20, 2010 BP oil spill, it is in your best interest to file a BP oil spill claim before the April 22, 2014 deadline. Contact Frank Miranda Attorneys at Law at 813.254.2637 to schedule an appointment to discuss your claim.