Economy

Demeter

(85,373 posts)

24. BP in $7.8bn settlement of gulf claims

Sat Mar 3, 2012, 05:42 AM

Mar 2012

BP and the lawyers representing tens of thousands of victims of the 2010 Gulf of Mexico oil spill have reached an $7.8bn out-of-court settlement over damages, a US judge has said, delaying the trial that had been due to start on Monday.

In a statement on Friday night, Judge Carl Barbier of the federal district court in New Orleans said “plaintiffs’ counsel and counsel for BP have reached an agreement on the terms of a proposed class settlement which will be submitted to the court for approval.”

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