Attorneys who brokered the multi-billion dollar settlement with BP following the 2010 BP Gulf Oil Spill appeared before a federal appeals court, to ask that a judge’s approval of the deal be maintained.
Attorneys explained that few have raised concerns about the settlement that District Judge Carl Barbier approved in December 2012. Private lawyers went on to explain that nobody filing a BP Gulf Oil Spill Claim complain about their compensation calculations, or claim that they believe they deserve a larger monetary settlement.
This appearance was in response to a Friday appearance by BP attorneys, before a three-judge panel of the 5th Circuit, during which the company asked that Judge Carl Barbier’s approval order be overturned. Counsel for BP made this bid in an effort to protect BP’s interests, should separate appeal of recent rulings of settlement terms prove unsuccessful. BP believes that Barbier misinterpreted the settlement, and has allowed satisfaction of erroneous claims.
Attorneys who brokered the settlement explained that BP was initially very satisfied with how BP Oil Spill Claims were processed. They went on to put things into perspective, explaining that over 69,000 business economic claims have been filed and less than fifteen businesses have objected to their BP Oil Spill economic settlement.