"BP Appeal To Stop 'Fictitious' U.S. Oil Spill Claims Fails"

"One of BP's attempts to curb payouts for what it says are 'fictitious' and 'absurd' claims related to the 2010 Gulf of Mexico oil spill has failed after a legal appeal was rejected by a U.S. court."

"BP had argued in its appeal that the administration of a 2012 settlement agreement was faulty because it allowed claimants without actual damages to join in.

But a panel of the 5th U.S. Circuit Court of Appeals on Friday affirmed a federal judge's approval of the multi-billion dollar settlement between the oil company and businesses and individuals who lost money and property in the spill."

Alex Dobuzinskis and Sarah Young report for Reuters January 13, 2014.

Source: Reuters, 01/13/2014