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Approximately two weeks ago, the 5th Circuit Court of Appeals reversed the District Court’s decision affecting the Deepwater Horizon Settlement Agreement. The new ruling affects business economic loss claimants who kept their financial records on a cash basis.
The 5th Circuit panel in a 2-1 decision concluded that variable expenses as identified in the Settlement Agreement should always be matched to the revenue they generated or are associated with, regardless of when they were paid out.
