BP Can't Challenge Spill Payouts, Deepwater Judge Told

Law360, New York (April 1, 2013, 6:23 PM EDT) -- BP PLC can’t sue the administrator supervising a $7.8 billion settlement with private plaintiffs in the Deepwater Horizon multidistrict litigation for allegedly issuing inflated and erroneous payouts because he’s shielded from liability and is simply following the court’s orders, a Louisiana federal judge was told Monday.

BP alleges administrator Patrick Juneau is misinterpreting the terms of the settlement agreement and as a result, is handing out both excessive payouts and payouts to claimants that didn’t actually suffer any losses. The company filed suit March 15, seeking...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.