A panel of the 5th U.S. Circuit Court of Appeals on Friday affirmed a federal judge's approval of a multi-billion dollar settlement between BP Plc and businesses and individuals who lost money and property in the 2010 Gulf of Mexico oil spill.
BP had supported the settlement agreement leading up to the December 2012 ruling by U.S. District Court Judge Carl Barbier approving it. But the company has since argued the administration of thesettlement is faulty because it allows claimants without actual damages to join in.
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