Steve Herman News
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The judge presiding over the BP Plc spill trial aimed at determining liability for the biggest offshore oil spill in U.S. history rejected an attempt to halt some settlement payments tied to the 2010 environmental catastrophe in a ruling in New Orleans federal court.
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BP Plc asked a judge to halt some payments under the $8.5 billion Gulf of Mexico oil-spill settlement, claiming the administrator is misinterpreting damages claims and increasing the cost to the company.
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BP Plc, Transocean Ltd. and Halliburton Co. must convince a federal judge that mistakes that led to the 2010 Gulf of Mexico oil spill don’t amount to gross negligence if they are to avoid billions of dollars in damages for the largest offshore oil spill in U.S. history.
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Lawyers for as many as 10,000 potential plaintiffs pursuing claims over BP Plc’s 2010 Gulf of Mexico oil spill said their clients today will opt out or reject the company’s $7.8 billion settlement reached in March.
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BP Plc heads into a sprawling trial Monday over who is liable for the biggest offshore oil spill in U.S. history with an early victory, after a judge ruled some documents related to its criminal conviction can’t be used.
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Fairfield Greenwich Group co-founder Walter Noel was sued by the trustee overseeing the liquidation of Bernard Madoff’s firm as part of an amended lawsuit that names 43 new defendants.
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A federal judge ruled that certain documents related to BP Plc’s criminal plea and indictments of its employees can’t be used as evidence against the company in the Feb. 25 trial over fault for the 2010 Gulf of Mexico oil spill.
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BP Plc’s proposed $7.8 billion partial settlement of claims arising from the 2010 Gulf of Mexico oil spill should be given preliminary approval, a lawyer suing the company told the judge overseeing the litigation.
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BP Plc ’s $20 billion oil spill fund, established at the request of U.S. President Barack Obama , may not stop more than 230 lawsuits filed by people and businesses harmed by the worst environmental disaster in U.S. history, a judge said.
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R. Allen Stanford’s jury, a day after finding the Texas financier guilty of leading a $7 billion international fraud, will continue hearing evidence on federal prosecutors’ request that he forfeit $300 million in assets.
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