14th Nov 2014 06:47
LONDON (Alliance News) - BP PLC has lost a bid for a new trial on findings the company was grossly negligent in the Gulf of Mexico oil spill in 2010, exposing the company to USD18 billion in pollution-related fines, Bloomberg reported on Friday.
The loss comes in the wake of a slew of legal setbacks for the oil company, including a failed bid to cut the cost of its settlement with victims of the oil spill.
BP is now awaiting a decision by the US Supreme Court on whether it will hear its complaint that the settlement is being misinterpreted to compensate claimants that BP says it did not intend to pay, Bloomberg added.
http://www.bloomberg.com/news/2014-11-13/bp-loses-bid-for-new-trial-over-its-gulf-spill-negligence.html
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
BP