BP’s strategy of trying to convince the U.S. Court of Appeals for the Fifth Circuit to rescue it from its own settlement of Deepwater Horizon claims has run into trouble.
Late Friday the Fifth Circuit refused to unravel the class action settlement that British Petroleum Exploration & Production Inc. signed in December 2012 to resolve thousands of business loss claims filed in the wake of the oil disaster. In a 2-1 ruling, the court rejected the arguments of BP’s lawyer, Theodore Olson of Gibson, Dunn & Crutcher, that the class was improperly certified because it includes claimants whose losses weren’t caused by the oil spill.
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