Judge Hears Details of Gulf Oil Spill Settlement
NEW ORLEANS (AP) - A federal judge says he is "leaning in favor of" granting preliminary approval to a proposed class-action settlement that would resolve billions of dollars in claims against BP over the 2010 oil spill in the Gulf of Mexico.
U.S. District Judge Carl Barbier said during a hearing Wednesday in New Orleans that he plans to rule within a week whether to grant preliminary approval of a deal. Barbier added he would hold a "fairness hearing" later this year before deciding whether to give final approval.
The proposed deal between BP and plaintiffs' attorneys is designed to resolve more than 100,000 claims by people and businesses who blame economic losses on the spill.
BP estimates it would pay about $7.8 billion to resolve these claims, but the settlement isn't capped.
- Gulf Oil Spill Trial Delayed for Settlement Talks
- Panhandle Shore Lines Rebuilding Three Years after Gulf Oil Spill
- Cedar Key locals look forward to BP oil spill settlement
- Filling Voids After Gulf Oil Spill
- Cedar Key Not Worried About Gulf Oil Spill
- Floridians & Gulf Oil Spill
- The Oil Spill in the Gulf Isn't Directly Affecting North Central Florida...Yet.
- 9th graders on the Gulf Oil Spill
- BP Oil Spill Court Case Continues
- Natural Gas Spill in Gulf of Mexico