BP Plc was told by a federal appeals court to abide by terms of a $9.2 billion settlement with victims of the Gulf of Mexico oil spill after failing to satisfy judges that a claims administrator is misinterpreting the deal.
BP Plc should keep paying more than $2.3 billion to seafood-industry interests as part of a settlement of claims over the 2010 Gulf of Mexico oil spill while a fraud probe tied to the accord is pending, plaintiffs’ attorneys said.
BP Plc’s $9.2 billion partial settlement over the 2010 Gulf of Mexico oil spill was upheld by an appeals court over the company’s protest that the deal wasn’t valid unless a claims-payment dispute was resolved in its favor.
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.
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.
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.
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.