BP To Pay Ala. Town $1.3M For Lost Revenue After Spill

Law360, New York (September 28, 2011, 2:40 PM EDT) -- BP PLC has agreed to pay the city of Orange Beach, Ala., $1.28 million to settle claims of lost revenue resulting from last year's catastrophic Deepwater Horizon oil spill, city officials announced Tuesday.

The settlement comes on top of $2.2 million already paid to the city for lost 2010 revenue, city finance director Clara Myers told Law360 on Wednesday. The latest settlement brings the total to about $3.5 million.

The settlement will cover a variety of taxes, fees and tolls lost out on last summer by...
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