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...
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