Gulf Coast Disaster News
|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.
|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.
|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.
|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.
|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.
|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.
|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.
|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).
|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.
|February 27, 2012, 4:22 pm|
Originally posted by Tom Bergin - Reuters - February 27, 2012
(Reuters) - The trial to decide who should pay for the 2010 Gulf of Mexico oil spill has been delayed by a week, to allow BP Plc to try to cut a deal with tens of thousands of businesses and individuals affected by the disaster.
Less than 24 hours before the case was set to start in a New Orleans federal court, U.S. District Judge Carl Barbier pushed back the date to March 5 from February 27.
The delay allows further talks between BP and the Plaintiffs' Steering Committee (PSC), which represents condominium owners, fishermen, hoteliers, restaurateurs and others who say their livelihoods were damaged by the April 20, 2010, explosion of the Deepwater Horizon drilling rig and subsequent oil spill.
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