A federal appeals court’s decision not to reconsider its previous decisions in appeals involving the Deepwater Horizon oil-spill settlement means that BP PLC must pin its hopes on the U.S. Supreme Court.
An en banc panel of the U.S. Court of Appeals for the Fifth Circuit on Monday refused to rehear a pair of appeals involving administration of the agreement, which BP now pegs at $9.2 billion. BP alleges that claims administrator Patrick Juneau has misinterpreted the settlement’s terms so that businesses with no economic damages tied to the 2010 spill are collecting billions of dollars.
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