Clement Brief Backs BP In Row Over $8B Deepwater Settlement

Law360, Los Angeles (May 10, 2013, 11:00 PM EDT) -- Former U.S. Solicitor General Paul D. Clement on Friday filed a Fifth Circuit amicus brief on behalf of accounting experts who support BP PLC’s allegations that a judge misconstrued the terms of its $7.8 billion settlement with Gulf of Mexico businesses claiming losses from the Deepwater Horizon spill, allowing an administrator to overpay them.

The brief bolstered BP's claims that U.S. District Judge Carl Barbier had deviated from the plain meaning of the agreement’s key terms by defining “revenue” and “expenses” strictly by cash receipts and...
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