"Businesses Won't Have To Return BP Spill Payouts, Federal Judge Says"

"NEW ORLEANS — A federal judge has ruled that BP must stand by the agreement made with the companies it compensated for losses after the 2010 Gulf oil spill despite the oil giant saying some claims were overestimated.

BP argued that a flawed funding formula enabled nearly 800 businesses to overestimate their spill-related claims.

One construction company hundreds of miles from the coast received $13.2 million, but deserved $4.8 million at most, BP said. Another company selling "animals and animal skins" was overpaid about $14 million, and about 50 others shouldn't have been paid at all, the company said."

Janet McConnaughey and Jonathan Fahey report for the Associated Press September 24, 2014.

SEE ALSO:

"Judge Denies BP’s Request to Recoup Overpayments to Oil Spill Victims" (New York Times)