BP's $7.8B Deepwater Spill Deal Allows Up To $600M In Fees

Law360, New York (April 18, 2012, 2:59 PM EDT) -- BP PLC asked a Louisiana federal court Wednesday to greenlight an estimated $7.8 billion settlement of economic, property damage and medical claims in multidistrict litigation over the Deepwater Horizon oil spill, a deal that could hand plaintiffs' counsel up to $600 million.

BP and the plaintiffs are seeking preliminary approval of two settlements, one to address economic losses and property damages and another to resolve medical claims brought by cleanup workers and Gulf Coast residents. Plaintiffs have also filed for class certification to allow the settlements...
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