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U.S. Court Upholds Ruling in BP Oil spill Case

BP logo is seen at a fuel station of British oil company BP in St. Petersburg
Alexander Demianchuk—Reuters BP logo is seen at a fuel station of British oil company BP in St. Petersburg, October 18, 2012.

BP is faced with billions of dollars in payments for claims the company says are 'fictitious' after an appeals court rejected its bid to revisit the case

A U.S. appeals court has rejected BP’s bid to revisit a decision made by the court in March on payments to companies affected economically by the 2010 oil spill.

BP had asked the 5th circuit to hear the case again, claiming that it was being forced to pay money to businesses that could not demonstrate that their losses were related to the spill, Reuters reports.

The court rejected BP’s bid 8-5. The company is now left with two options, to either pay billions in claims or to appeal the case at the U.S. Supreme Court.

The company is considering the options, spokesman Geoff Morell said in a statement.

[Reuters]

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