Multinational oil and gas company British Petroleum and private plaintiffs’ fight over claims appeals have now gone for a year.
U.S. District Judge Carl Babier was ordered by a divided three-judge panel of the U.S. Fifth Circuit Court of Appeals to release an injunction that would block claims payments to a group of business loss claims with regard to revenue.
The businesses include companies whose profits and expenses don’t tally, making it seem like money poured out of them when in fact they earned more during a different time frame.
Babier asked to have the claims re-examined and for the two parties to return to him once they have agreed on a single claim amount.
He also informed claims administrator Patrick Juneau that they should resume paying economic loss claims based on “properly-matched accrual-basis records”.
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