A judge has ruled a group of attorneys will divide $555.2 million for their work on behalf of people and businesses who suffered economic damages because of BP’s 2010 Gulf oil spill.
U.S. District Judge Carl Barbier (BAHR’-bee-aye) of New Orleans issued a 42-page ruling spelling out reasons for the award, the result of work on a 2012 settlement that is expected to account for at least $13 billion of the energy company’s spill-related costs.
Barbier’s Oct. 25 ruling didn’t specify the number of attorneys involved and said the way in which the money will be allocated will be determined later.
He said the award, which was requested by the attorneys, amounts to about 4.3 percent of the settlement. He said that is modest compared to awards in similar cases.
BEFORE YOU GO…
… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.
If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.Click for more info