BP Wants To Stop Paying Oil Spill Victims

BP is arguing that most victims of last year's Gulf oil spill should not get any more payouts for future losses because the hardest-hit areas are recovering and the economy is growing.

By: Jamie Burch | WKRG
Published: July 08, 2011

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The British oil company argues its case in a 29-page document (see below) made public Friday and filed with the Gulf Coast Claims Facility. The $20 billion fund is responsible for paying for damages from the
spill.

The company says the fund should end payments for future losses to everyone, except in limited cases for oyster harvesters.

The company had already argued that fund administrator Ken Feinberg's formula for determining final payments artificially inflates future expected losses.

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