The U.S. Fifth Circuit Court of Appeals ruled on Monday, March 3 in favor of the businesses who are claiming compensation from London-based oil giant BP, stating that these businesses do not need to prove that their economic losses were caused by the 2010 Gulf of Mexico oil spill. The ruling was based on the original agreement that BP created.
This decision has a big impact on the goals of BP to limit the settlement to the original total estimation of $7.8 billion in 2012, which has since ballooned to as much as $9.2 billion.
Before BP was able to get a temporary injunction on business compensation payments, the settlement had a possibility of reaching more than $15 billion.
Our attorneys at Williams Kherkher are ready to fight on your behalf if you have had your initial oil spill claim denied and need to file an appeal. We have a high success rate in getting appeals approved and may be able to do the same for you. Call our offices today at 800-821-1544 to learn more.