US law firms in the Gulf of Mexico area have won some of the biggest compensation awards for themselves under BP’s settlement for the Deepwater Horizon disaster, reaping a “bonanza” caused by a misinterpretation of the deal, according to the oil company.
Analysis of data from the court-sponsored claims programme shows that the average offer made to law firms for losses caused by the spill has been $812,000, BP says, more than three times the average for all businesses.
Payments to law firms have been rising rapidly, roughly doubling during May and June to $1.5m per claim, versus an average of $756,000 in the previous two months.
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