BP Exploration & Production, Inc. v. Claimant ID 100141850

BP argued that claimant was not entitled to the $65 million award it received pursuant to the Deepwater Horizon oil spill Settlement Agreement because it did not suffer a loss that was caused by the oil spill despite submitting a claim form certifying that it did. The Fifth Circuit held that the district court did not abuse its discretion in declining discretionary review because BP has not demonstrated that claimant did not suffer a post-spill loss, and claimant satisfied the causation formula set out in Exhibit 4B of the Settlement Agreement and formally attested to the fact that its losses were caused by the oil spill. The court reasoned that, while the evidence BP presented may indicate additional, market-related causes for claimant's loss, the existence of these alternative causes did not eliminate the possibility that the oil spill contributed to cause claimant's loss, nor did it preclude claimant from recovering under the Settlement Agreement. Accordingly, the court affirmed the judgment of the district court. View "BP Exploration & Production, Inc. v. Claimant ID 100141850" on Justia Law