BP's (BP)
won an appeal to expedite an ongoing legal battle over a $9.6 billion
settlement tied to the 2010 Deepwater Horizon disaster in the Gulf.
On Friday, Circuit Judge E. Grady Jolly set oral arguments in the case to start the week of Nov. 4, a move seen as increasing pressure on Americans who filed a class-action suit contending BP should pay more to businesses and individuals harmed by the spill, the largest ever in U.S. waters.
BP contends plaintiffs exaggerated the financial impact and contests the settlement value. In June, the oil company took out ads in major newspapers claiming that "trial lawyers and some politicians" encouraged businesses to submit claims for inflated or nonexistent losses. The oil giant has been trying to stop settlement payments until an appeal can be heard.
BP shares were trading up less than 1% on the stock market today following the judge's ruling.
Lawyers for those affected by the spill say BP is having "buyers remorse" after initially agreeing to the settlement.
The company even warned investors in March that costs from the oil spill could be "significantly higher" than it initially expected.
BP and the Justice Department are also at odds over the amount of oil that was spilled into the Gulf before BP capped the well 86 days after the explosion on April 20, 2010.
In a court filing Thursday, BP asked District Judge Carl Barbier to use their estimate of 2.45 million barrels, roughly 103 million gallons, when calculating any Clean Water Act fines. But the Justice Dept. countered Thursday that its experts think that around 4.2 million barrels, or 176 million gallons, spilled into the water.
On Friday, Circuit Judge E. Grady Jolly set oral arguments in the case to start the week of Nov. 4, a move seen as increasing pressure on Americans who filed a class-action suit contending BP should pay more to businesses and individuals harmed by the spill, the largest ever in U.S. waters.
BP contends plaintiffs exaggerated the financial impact and contests the settlement value. In June, the oil company took out ads in major newspapers claiming that "trial lawyers and some politicians" encouraged businesses to submit claims for inflated or nonexistent losses. The oil giant has been trying to stop settlement payments until an appeal can be heard.
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Lawyers for those affected by the spill say BP is having "buyers remorse" after initially agreeing to the settlement.
The company even warned investors in March that costs from the oil spill could be "significantly higher" than it initially expected.
BP and the Justice Department are also at odds over the amount of oil that was spilled into the Gulf before BP capped the well 86 days after the explosion on April 20, 2010.
In a court filing Thursday, BP asked District Judge Carl Barbier to use their estimate of 2.45 million barrels, roughly 103 million gallons, when calculating any Clean Water Act fines. But the Justice Dept. countered Thursday that its experts think that around 4.2 million barrels, or 176 million gallons, spilled into the water.
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