Very disappointed to see the ruling from the appeals court yesterday, with 8 rejecting BP appeal application. I have always considered establishing 'the original intention of the parties' as being fundamental in these matters, and the appeal court's decision to permit fraudulent and fictitious claims to succeed is beyond me, and tells us more about American business than we would care to know. I hope BP takes this to the supreme court as there is a grey dark shadow hanging over their legal system in my opinion.
I suspect that we will not see £6 until ruling has been made on whether bp faces fines for GN, or where they get off with (just) a rap for 'Negligence'. However, given the continued uncertainty caused by threat of GN and bp's possibly controversial part-ownership of Rosneft - if the Ukraine situation deteriorates dramatically - it is good to see the sp holding up, in spite of a subdued FTSE.
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