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October 7, 2014

BP: Oil Spill Settlement Administrator ‘Misunderstood’ Deal, Allowed Questionable Payments to Nonprofits

BP told a U.S. Court of Appeals in New Orleans this week that the administrator of the Gulf Oil Spill settlement “misunderstood the deal” and allowed a collection of nonprofit agencies that “didn’t suffer any losses from the spill” to be paid hundreds of thousands of dollars, reports Bloomberg.

BP is asking the three-judge panel to review these questionable awards after being “rejected by a lower-court judge.”

The company is challenging the loss-calculation formula for the nonprofits, “each of which received fewer grants and donations after the spill than before it. Such miscalculations treated the grants and donations as business revenue, violating settlement terms intended to ‘allow recovery only for actual lost profits by business claimants,”’ said BP spokesman Geoff Morrell.

Read the full story here.

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