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20 Jul 2013

Katherine Rushton, Telegraph (UK)

BP loses bid to suspend Gulf of Mexico compensation payouts [USA]

The British oil giant struck a deal to pay damages to victims of the oil spill after the Deepwater Horizon oil platform exploded in 2010…However, the deal opened the floodgates to 10,000 compensation claims a month, costing BP far more than the $7.8bn (£5.2bn) it had expected and leaving the oil major with a battle on its hands to try to limit the number of purported victims coming forward…The oil company argues that…two of the lawyers working for the fund appeared to be taking kickbacks from at least one of the law-firms filing requests for compensation…BP had asked for all compensation payouts to be suspended while the matter was investigated…However, on Friday it had its request refused…