LONDON (Alliance News) - BP PLC is facing a flood of legal claims in the US from big UK investors over the Gulf of Mexico spill after it lost a court battle in Texas to get the cases thrown out, the Evening Standard reported Thursday.
The FTSE 100 oil group is facing claims from investors, including pension funds for several London boroughs and rival Royal Dutch Shell PLC, in the US, where they are likely to win much larger payouts than they would in the UK, the Standard said.
BP had argued the claimants should be forced to have their cases heard in England, but US District Judge Keith Ellison has rejected the argument.
http://www.standard.co.uk/business/business-news/bp-hit-by-us-court-blow-over-gulf-of-mexico-oil-spill-claims-9798213.html
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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