We believe that the Economic Settlement is a tremendous settlement. While the latest developments may appear somewhat troubling, it’s important to remember that while the Fifth Circuit is giving BP an opportunity to be heard and its arguments explored, the Settlement Agreement hasn’t been changed. Neither court has agreed with BP. Instead, the courts are further analyzing and evaluating the Settlement in light of BP’s arguments. It’s understandable that some participants in the program feel frustration and concern over BP’s antics.
We now realize that the Settlement Program will likely take longer than anticipated to process claims. We also realize that BP will continue being BP. However, none of the participants in the Settlement Program should become discouraged about BP’s antics. The Program, when interpreted as intended, and as it currently sits, will work as agreed to by all of the parties. We are confident that we are on the right side of this argument, and remain optimistic that, once the courts analyze the full record, BP’s arguments will ultimately fall apart.
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