BP To Halt Deepwater Loss Payments During Review

Law360, New York (December 6, 2013, 3:15 PM EST) -- The Louisiana federal judge overseeing the Deepwater Horizon multidistrict litigation suspended all business economic loss payments from BP PLC's $9.2 billion settlement with property owners on Thursday following a recent Fifth Circuit ruling calling for greater scrutiny of the claims process.

U.S. District Judge Carl Barbier amended an earlier preliminary injunction by expanding the payment freeze to cover additional claims. BP had disputed the judge's earlier order as too narrow, and the Fifth Circuit granted the oil giant's emergency motion on Tuesday.

The appeals court said...
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