BP Asks 5th Circ. To OK Deepwater Settlement Calculations


Law360, Washington (September 24, 2015, 8:23 PM ET) — BP asked the Fifth Circuit on Wednesday to affirm a so-called accrual-style framework when calculating the settlement it will pay a class of Gulf Coast businesses harmed by 2010’s Deepwater Horizon disaster, claiming that the court had previously suggested the formula to determine the businesses’ lost profits.

BP Exploration and Production Inc. asked an appellate panel to end years of wrangling over how to calculate the oil spill’s impact on affected businesses’ bottom line, asking it to accept the very model that the appeals court suggested…