The saga of the 2010 BP oil spill seemed to have come to an end after the parties reached a settlement last year. The uncapped class-action settlement was set to bring relief to individuals and businesses who were injured from the oil spill. Now, however, a new dispute threatens to undo the entire deal.
The dispute surrounds potential business claims, rather than claims from individuals. BP takes issue with the method used to calculate the profit losses of business claimants. According to BP, the numbers could be manipulated in a way that leads to errors in measuring actual lost profits. Last month, a panel of the 5th Circuit Court of Appeals agreed with the oil company and implemented a new standard for damage calculations in order to remedy the problem. Now BP wants to push the court further and have the settlement terms for businesses changed to reflect the oil company's interpretation.