Charging Spike In 'Bogus' Oil Spill Settlement Claims, BP Takes the Offensive
by: Andrew Schneider, June 27, 2013 12:06:00 am
BP is appealing a judge’s interpretation of the terms of a multibillion-dollar settlement program tied to the Gulf oil spill. The London-based energy giant says it’s sending out hundreds of letters to lawyers for Gulf Coast businesses, warning that, if its appeal succeeds, it may seek to recover at least a portion of their clients’ shares in the settlement.
“It’s somewhat unusual to have a dispute over a settlement.”
Jeff Rensberger is a professor at South Texas College of Law.
“One of the benefits of settling a case is you close down your litigation costs. So they’re reopening their litigation costs.”
BP also placed a full-page advertisement in three of the nation’s largest newspapers Wednesday, accusing “trial lawyers and some politicians” of encouraging businesses to submit thousands of claims for inflated or non-existent losses.