09/11/2015 // JusticeNewsFlash // (press release)
Louisiana – Oil giant BP is seeking to have some of the money paid to businesses and individuals impacted by the massive Gulf of Mexico oil spill that occurred in 2010 returned. As reported by The Associated Press, the company recently told a federal appeals court that it should be able to retrieve some of the funds that were paid in economic damages because following the approval of the 2012 settlement, the accounting of the claims administrator resulted in overpayments. A new calculation method was subsequently ordered; however, the issuing court refused to grant the company restitution.
BP is reportedly seeking restitution on the money paid out before October of 2013. According to attorneys who spoke to the 5th U.S. Circuit Court of Appeals, the matter could affect over 790 businesses and involve hundreds of millions of dollars.
Attorneys representing plaintiffs spoke in opposition of the move. Samuel Issacharoff is quoted as saying to the court of those who received settlements “this was their money. They were able to get on with their lives.”
A ruling on the case is not expected to be reached immediately.
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Source: Associated Press News Story http://news.findlaw.com/apnews/323e8f2a2be24ae6ad48b93c929612d2