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.
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.
U.S. citizens and residents with UBS AG accounts are racing the clock to disclose their secret holdings to the Internal Revenue Service after the Swiss Parliament ratified an agreement to surrender the names of 4,450 bank clients, tax lawyers said.