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BP to appeal Gulf oil spill damages ruling to U.S. Supreme Court

Wed, 21st May 2014 17:00

May 21 (Reuters) - BP Plc on Wednesday said it willask the U.S. Supreme Court to review a court ruling concerningthe 2010 Gulf of Mexico oil spill, which forces the company topay some businesses for economic damages without the businesseshaving to prove the spill caused their losses.

On Monday, the 5th U.S. Circuit Court of Appeals in NewOrleans refused to disturb a March ruling from a three-judgepanel over how to compensate businesses.

BP has said paying such claims could push the estimated $9.2billion cost of its settlement with those businesses, which thecompany helped negotiate, significantly higher.

"No company would agree to pay for losses that it did notcause, and BP certainly did not when it entered into thissettlement," the company said. BP will ask the 5th Circuit notto require it to make business economic loss payments while itappeals. (Reporting by Jonathan Stempel in New York, Editing by FranklinPaul)

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