BP released a statement tonight regarding a ruling by the U.S. Court of Appeals for the Fifth Circuit, who earlier today found the oil spill giant was right on one count: they should not have to systematically pay spill claims.
The Court's ruling, BP wrote, sets aside "the claims administrator's interpretation of the business economic loss framework in the settlement agreement BP reached with the Plaintiffs' Steering Committee last year."
Further, today's ruling "affirms what BP has been saying since the beginning: claimants should not be paid for fictitious or wholly non-existent losses."
Naturally, BP is "gratified" that automatic payments of claims by the administrator must cease.
BP added that as part of today's decision, the Fifth Circuit has also reversed the District Court's denial of BP's motion for a preliminary injunction staying the payment of business economic loss claims under the agreement.
The District Court must "expeditiously craft" an injunction that holds off on paying people who did not suffer "actual injury traceable to loss from the Deepwater Horizon accident" until the matter is "fully heard and decided through the judicial process."
While the victory is clearly a high point for the beleaguered BP, it might not be a time to gloat: the second phase of the civil trial began Monday with environmental groups running a continuous video loop outside the courthouse of the spill's damage to the Gulf and its wildlife and marine life.
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