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BP: Most Gulf Oil Spill Victims Should Not Get Any More Payouts

Bp Gulf Oil Spill Victims Payouts

KEVIN McGILL   07/ 8/11 03:40 PM ET   AP

NEW ORLEANS — 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.

The British oil company argues its case in a 29-page document 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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Filed by Travis Donovan  |