National Fisherman


BP Plc has billions of dollars in the balance as it asks a U.S. appeals court to reject a claims administrator's interpretation of the company's partial settlement over the 2010 Gulf of Mexico oil spill.

The company contends the administrator, Patrick Juneau, is approving millions of dollars in "fictitious" payments for business losses based on what BP believes is a flawed interpretation of the agreement reached with victims' lawyers in 2012. These interpretations have already prompted the company to add hundreds of millions of dollars to the estimated $7.8 billion cost of the settlement and may force it to pay billions of dollars more than expected, BP said in court papers.

A three-judge panel of the U.S. Court of Appeals in New Orleans is scheduled today to hear BP's arguments seeking to reverse a lower-court ruling and rein in Juneau.

"BP feels aggrieved and this is their last shot," said Peter Hutton, an analyst at RBC Capital Markets in London. "If they can't get what they see as due process, it will have implications for their confidence doing business in the States."

U.S. District Judge Carl Barbier in New Orleans in March ruled that Juneau is interpreting the contract properly. In April he dismissed BP's lawsuit against Juneau and rejected a request for an injunction barring certain payments while the company appealed his March order.

Read the full story at Bloomberg>>

Inside the Industry

The Obama Administration recently announced that it is looking for candidates to be considered for a sustainable fishing prize.

The White House Champion for Change for Sustainable Seafood designation will honor individuals for “contributing to the ongoing recovery of America’s fishing industry and our fishing communities.”

Read more ...

The American Fisheries Society is honoring recently retired Florida Institute of Oceanography director Bill Hogarth with the Carl R. Sullivan Fishery Conservation Award — one of the nation's premier awards in fisheries science - in recognition of his long career and leadership in preserving some of the world's most threatened species, advocating for environmental protections and leading Florida's scientific response to the Deepwater Horizon oil spill.

Read more ...
Try a FREE issue of National Fisherman

Fill out this order form, If you like the magazine, get the rest of the year for just $14.95 (12 issues in all). If not, simply write cancel on the bill, return it, and owe nothing.

First Name
Last Name
Address
Country
U.S. Canada Other

City
State/Province
Postal/ Zip Code
Email