BP is returning to the 5th U.S. Circuit Court of Appeals today in a case involving businesses’ damage claims from the 2010 Deepwater Horizon oil spill, according to an Associated Press report. The company is seeking restitution for a portion of the money it paid in claims to businesses as part of a 2012 settlement. Regarding that settlement, BP eventually won a revision in the calculation of losses after arguing that the claims administrator was not correctly matching revenues and expenses for affected businesses. Now, BP is suing to recoup the money it paid in claims (plus interest) related to the old calculations which were used prior to October 2013. In court documents, the company says hundreds of millions of dollars are at stake.
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