Business
BP Appeals Against Settlement Claims
BP appealed last Friday for a halt to settlements to those affected by the massive 2010 Gulf of Mexico oil spill, because of what it says are “hundreds of millions of dollars, and what could reach billions of dollars, in awards to claims asserting fictitious losses.”
“Any such payment will constitute irreparable harm,” the energy giant argued. “Therefore, an expedited hearing is necessary.”
Such a hearing is now scheduled for March 22, after the court granted BP’s emergency motion.
The legal debate is part of the widespread fallout from the oil spill — the worst in U.S. history — which began after a rig explosion aboard the Deepwater Horizon in the Gulf. Eleven workers died, reports the CNN.
Roughly 205 million gallons of oil spewed into the sea for nearly three months before a cap was placed on the BP-owned Macondo well, nearly a mile beneath the surface.
Since then, the oil company has promised and paid out some settlement funds, while fighting others in court.
Earlier this year, U.S. District Judge Carl Barbier Jr. considered BP’s contention that a January 15 decision by the claims administrator about how settlements would be distributed.
BP had argued that the set-up would produce “absurd” results.
And yet Barbier sided against BP in a March 5 decision.
“The court adopts Class Counsel’s interpretation as it is most in line with the rest of the settlement agreement,” the judge wrote.
Business
PENGASSAN Tasks Multinationals On Workers’ Salary Increase
Business
SEC Unveils Digital Regulatory Hub To Boost Oversight Across Financial Markets
Business
NAFDAC Decries Circulation Of Prohibited Food Items In markets …….Orders Vendors’ Immediate Cessation Of Dealings With Products
Importers, market traders, and supermarket operators have therefore, been directed to immediately cease all dealings in these items and to notify their supply chain partners to halt transactions involving prohibited products.
The agency emphasized that failure to comply will attract strict enforcement measures, including seizure and destruction of goods, suspension or revocation of operational licences, and prosecution under relevant laws.
The statement said “The National Agency for Food and Drug Administration and Control (NAFDAC) has raised an alarm over the growing incidence of smuggling, sale, and distribution of regulated food products such as pasta, noodles, sugar, and tomato paste currently found in markets across the country.
“These products are expressly listed on the Federal Government’s Customs Prohibition List and are not permitted for importation”.
NAFDAC also called on other government bodies, including the Nigeria Customs Service, Nigeria Immigration Service(NIS) Standards Organisation of Nigeria (SON), Nigerian Ports Authority (NPA), Nigerian Maritime Administration and Safety Agency (NIMASA), Nigeria Shippers Council, and the Nigeria Agricultural Quarantine Service (NAQS), to collaborate in enforcing the ban on these unsafe products.
