LONDON (AP) — BP acknowledged Tuesday it had failed to reach a settlement in advance of next week’s civil trial on the Deepwater Horizon accident and is ready to defend itself vigorously against allegations of gross negligence in the U.S.’s biggest environmental disaster.

Rupert Bondy, the group’s general counsel, said in a statement that settlement demands were “not based on reality or the merits of the case.” The company said it was confident and ready to move to trial.