BP wins Deepwater Horizon spill compensation appeal.

FT: “BP has secured a first victory in its legal campaign to limit its compensation settlement for the 2010 Deepwater Horizon disaster, following a favourable ruling from a US court.”
“The Fifth Circuit appeals court in New Orleans on Wednesday night approved an injunction to stop payments to businesses that had not “experienced actual injury traceable to loss” from the Deepwater Horizon accident.
The ruling overturned earlier decisions by the district court that rejected BP’s calls for such an injunction.
….BP welcomed the decisions, which may improve its chances of preventing the cost of the settlement rising to more than double its original estimate of $7.8bn. The figure has already been increased to more than $9.6bn, but on recent trends in payments it was on course to be higher than $15bn.”