Texas Businesses Urge 5th Circ. To Sink $8B Deepwater Deal

Law360, New York (September 17, 2013, 6:23 PM EDT) -- A collection of Texas business owners seeking property damage payouts in the wake of the Deepwater Horizon oil spill urged the Fifth Circuit Tuesday to upend a $7.8 billion settlement they claim unfairly compensates businesses that were never actually harmed.

The appellants, which include a vacation rental company, a water park and an offshore drilling rig repair company, say they were harmed by a subsequent downturn in business following the 2010 spill but say the March 2011 deal contains a loophole that would send funds to...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

In Re: Deepwater Horizon


Case Number

12-31155

Court

Appellate - 5th Circuit

Nature of Suit

3893 Environmental Matters

Date Filed

November 19, 2012

Law Firms

Companies

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.