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BP loses Deepwater Horizon appeal

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BP loses Deepwater Horizon appeal

BP has been an unsuccessful in its court battle to limit the settlement costs for victims of the 2010 Deepwater Horizon disaster.

The FT reported that the oil major is now only left with the option of going to the US Supreme Court to avoid billions of dollars of additional liabilities.

On Monday the Fifth Circuit appeals court in New Orleans rejected BP’s request for a full review of the company’s case. BP is aiming to establish that the compensation settlement it agreed with plaintiffs’ lawyers in 2012 is being interpreted unfairly.

The ruling means BP is running out of options to stop the cost of the settlement rising above the $7.8 billion that it originally predicted.

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Profile: The opportunity set that attracted Brett Williams to wealth management

Profile: The opportunity set that attracted Brett Williams to wealth management

Brett Williams is best known for helping to build some of the biggest platforms in the IFA market.He made the move over to wealth management to head SEI’s UK business earlier this year in the belief that this is where the best opportunities now lie.

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