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BP Loses Renewed Bid to Halt Spill Settlement Payments [USA]
BP Plc lost a renewed bid to suspend payments from the court-supervised program administering its settlement of claims tied to the 2010 Gulf of Mexico oil spill. An investigation of alleged wrongdoing at the Mobileโฆclaims assistance center didnโt find โany credible evidence of fraud,โโฆ[Judge] Barbier last month rejected the companyโs request to stop the payments whileโฆformer director of the Federal Bureau of Investigation, probes allegations of misconduct in the claims program. BP renewed the request Aug. 5โฆBP faces thousands of lawsuits over damages caused by the explosion and sinking of the Deepwater Horizon rig in 2010...BP reached the agreement with most private party plaintiffs last year, initially estimating the cost of the settlement at $7.8 billion. The company has since raised the estimate to $9.6 billionโฆ