BP SEEKS EXPEDITED RULING FROM FIFTH CIRCUIT ON CLAWING BACK CLAIMS PAYMENTS

By TONI ELLINGTON

BP PLC has filed a motion to expedite a decision from the Fifth Circuit Court of Appeals on whether BP can claw back payments it made in the Deepwater Horizon settlement.  BP alleges that without expedited consideration on this issue, there will be no money left to recover.

In May 2014, U.S. District court Judge Carl Barbier, who oversees the multi-district litigation over the Deepwater Horizon spill and related settlements, implemented Rule 495 on all settlements which had not yet been paid.  The rule forces businesses seeking damages to more closely match post-spill revenue with expenses.  However, the rule did not affect claimants who had already been paid.  BP filed a motion to make Rule 495 retroactive.

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