Judge is asked to sign off on the BP oil spill settlement
Published: April 18,2012
NEW ORLEANS — BP and a team of plaintiffs’ attorneys have presented a federal judge with the details of a proposed class-action settlement designed to resolve billions of dollars in economic damage claims spawned by the 2010 oil spill in the Gulf of Mexico.
The company and lawyers representing more than 100,000 individuals and businesses are asking U.S. District Judge Carl Barbier to give his preliminary approval to the agreement filed Wednesday in New Orleans.
Barbier hasn’t indicated when he will rule.
London-based BP PLC estimates it will pay about $7.8 billion to resolve private party claims, but the settlement doesn’t have a cap.
The agreement announced March 2 doesn’t resolve separate claims by the federal government and Gulf states against BP and its contractors over the nation’s worst offshore oil spill.
To sign up for Mississippi Business Daily Updates, click here.
Twang & Tourism: The Country Music Trail
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- White House hotel making comeback in Biloxi
- Supreme Court deals blow to McDaniel's election challenge
- Baseball stadium for Farish Street? It’s possible
- Guns OK inside Mississippi polling places, attorney general says
- McCarthy hired as CFO of Mississippi Development Authority
- State GOP chairman calls on McDaniel to hurry with challenge
- 'Get on Up' movie premiers in Madison with Chadwick Boseman and Tate Taylor walking the red carpet
- Bryant protests immigrant children being housed in state
- Gunn, Reeves introduce performance-based budget plan
- Three indicted, alleged to have embezzled from agency