NEW ORLEANS (AP) — A federal appeals court is set to hear dueling arguments on whether a judge should have approved BP's multibillion-dollar settlement for compensating victims of its 2010 oil spill in the Gulf of Mexico.
A year ago, BP PLC urged U.S. District Judge Carl Barbier to approve its agreement with a team of lawyers for Gulf Coast businesses and residents who claim the spill cost them money.
Today, however, company attorneys will tell a three-judge panel of the 5th U.S. Circuit Court of Appeals that Barbier's order shouldn't be upheld unless BP ultimately prevails in a dispute over settlement payouts to businesses.
In October, a different 5th Circuit panel threw out Barbier's rulings on that dispute and ordered him to change the calculation of some damages.