$7.8B Deepwater MDL Settlement Heads Into Claims Stage

Law360, New York (June 4, 2012, 9:17 PM EDT) -- Resolution of most private claims in multidistrict litigation over the Macondo oil spill entered a new stage Monday, as victims of the disaster were cleared to submit claims against BP PLC under the $7.8 billion settlement the company brokered in the spring.

A court-supervised settlement program took effect Monday morning, replacing a three-month transition process through which claimants who originally sought to resolve their claims against BP outside the litigation could receive a temporary partial payment.

BP and the plaintiffs’ steering committee in early March proposed...
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