BP's $7.8B Deepwater Spill Deal Scores Initial OK

Law360, New York (May 2, 2012, 10:17 PM EDT) -- A Louisiana federal judge on Wednesday granted preliminary approval to a $7.8 billion class action settlement between BP PLC and plaintiffs covering economic and property damages and medical claims in multidistrict litigation over the Deepwater Horizon oil spill.

U.S. District Judge Carl J. Barbier gave the go-ahead to two settlements, one to address economic losses and property damages to Gulf Coast residents and another to resolve medical claims brought by workers who performed cleanup work following the April 2010 disaster at the Deepwater Horizon rig....
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