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U.S. court rejects BP appeal over oil spill losses

Source: Reuters - Tue, 4 Mar 2014 00:00 GMT
Author: Reuters
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March 3 (Reuters) - A divided U.S. appeals court on Monday rejected BP Plc's appeal of a ruling that allowed businesses to recover money over the 2010 Gulf of Mexico oil spill, even if they could not trace their economic losses to the disaster.

By a 2-1 vote, the 5th U.S. Circuit Court of Appeals in New Orleans upheld a Dec. 24 ruling by U.S. District Judge Carl Barbier in New Orleans.

It also said an injunction preventing payments on so-called business economic loss claims should be lifted.

Barbier had ruled that BP would have to live with its earlier interpretation of a multi-billion dollar settlement agreement over the spill in which certain businesses claiming losses were presumed to have suffered harm.

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