BP Ordered to Honor its Settlement Agreement

From Ring of Fire:

A federal appeals court ruled Monday that businesses recovering money for economic losses related to the 2010 BP Gulf of Mexico oil spill will not have their payments withheld or have to prove that they were directly harmed by the spill. The decision upheld a December 24 ruling by US District Judge Carl Barbier.

The court ruled that BP will not be allowed to renege on a 2012 Settlement Agreement the company negotiated and authored after the spill. The ruling also calls for an injunction to be lifted so that payments can resume.

“We conclude the settlement agreement does not require a claimant to submit evidence that the claim arose as a result of the oil spill,” the majority decision states. Terms of the Settlement Agreement “are not as protective of BP’s present concerns as might have been achievable, but they are the protections that were accepted by the parties and approved by the district court.”

You can read the full article here at Ring of Fire.