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Judge asked to sign off on BP oil spill settlement

April 19, 2012, 8:40 am

Originally posted by Cain Boudeau - AP - April 18, 2012

 

NEW ORLEANS (AP) -- BP and attorneys for more than 100,000 people and businesses presented a federal judge Wednesday with a class-action settlement designed to resolve billions of dollars in claims spawned by the 2010 oil spill in the Gulf of Mexico.

 

The London-based oil giant and the lawyers are asking U.S. District Judge Carl Barbier in New Orleans to give preliminary approval to the settlement agreement. The judge is scheduled to consider their request April 25.

 

 


BP, Plaintiff Lawyers Submit Proposed Spill Accord Terms

April 19, 2012, 8:37 am

Originally posted by Margaret Cronin Fisk, Jef Feeley and Dawn McCarty - Bloomberg - Apr 18, 2012

BP Plc (BP/) and lawyers suing the company over the 2010 Gulf of Mexico oil spill submitted their proposed settlement agreement to the judge overseeing the litigation.

Lawyers for both sides filed the accord today with U.S. District Judge Carl Barbier in New Orleans for preliminary approval. They asked Barbier to hold a Nov. 8 fairness hearing before final approval of the accord and to postpone any trial on liability until after the hearing. Barbier today set a hearing April 25 to consider the request for preliminary approval.

 


BP, some plaintiffs ask court to approve spill settlement

April 19, 2012, 8:32 am

Lawsuits between BP and thousands of plaintiffs claiming economic and medical damages from the 2010 Gulf of Mexico oil spill edged closer to resolution Wednesday as the parties filed a proposed class-action settlement in a New Orleans federal court.


Investigation: Two Years After the BP Spill, A Hidden Health Crisis Festers

April 18, 2012, 12:09 pm

On March 3 Nicole Maurer learned of the proposed settlement between BP and hundreds of thousands of Gulf Coast businesses and residents harmed by its 2010 oil spill, the largest in US history.


Investors appear confident in BP settlement figure

March 14, 2012, 10:22 am

Originally posted by Emily Pickrell - Houston Chroncle - March 13, 2012

BP's estimate that it will pay $7.8 billion to settle thousands of Gulf oil spill claims has reassured investors even as lawyers for plaintiffs emphasize that the figure may be low.


BP Reaches Estimated $7.8 Billion Deal With Spill Victims

March 6, 2012, 1:36 pm

BP Plc (BP\) may face as much as $17.6 billion in civil pollution fines and possibly billions of dollars more in criminal penalties as its settlement with businesses and individuals harmed by the 2010 Gulf of Mexico oil spill shifts the focus to government claims.


BP reaches $7.8-bn deal with victims of oil spill

March 6, 2012, 11:11 am

Originally posted by Bloomberg - March 5, 2012

BP Plc said it had reached a $7.8-billion settlement with businesses and individuals over the 2010 Deepwater Horizon oil rig disaster, removing one of three major litigation fronts facing the company over the biggest offshore spill in US history.

BP said yesterday in a statement that the settlement will be paid out of a $20 billion trust set up to compensate spill victims. Lawyers for the plaintiffs said in a separate statement that settlement will resolve most private claims for economic loss, property damage and medical injuries. Plaintiffs lawyers said there wasn’t a cap on the total damages BP has to pay.


BP Spill Trial Starts Amid Settlement Pressure

March 2, 2012, 8:51 am

Originally posted by Megan Cronin Fisk and Jef Feeley - Bloomberg - March 1, 2012

 

BP Plc (BP/), Transocean Ltd. and Halliburton Co. (HAL), with billions of dollars on the line, are set to find out from a federal judge who among them is to blame for the April 20, 2010, explosion and sinking of the Deepwater Horizon oil rig in the Gulf of Mexico.


BP announces settlement with PSC, subject to final written agreement, to resolve economic loss and medical claims from Deepwater Horizon accident and oil spill

March 1, 2012, 12:06 pm

BP has reached a settlement with the Plaintiffs' Steering Committee (PSC), subject to final written agreement, to resolve the substantial majority of legitimate economic loss and medical claims stemming from the Deepwater Horizon accident and oil spill. The PSC acts on behalf of individual and business plaintiffs in the Multi-District Litigation proceedings pending in New Orleans (MDL 2179).


BP seeks settlement with oil spill plaintiffs group

February 28, 2012, 3:17 pm

NEW ORLEANS, Feb 28 (Reuters) - BP Plc is seeking to settle a lawsuit over the massive 2010 Gulf of Mexico oil spill by tapping into a $14 billion fund it set aside to compensate fishermen and businesses harmed by the disaster, lawyers familiar with the talks said.

In exchange, the claimants, represented by a group called the Plaintiffs' Steering Committee, would drop their lawsuit in a court case scheduled to start in New Orleans on March 5.



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