Blasting Critics, BP Urges Approval Of $7.8B Deepwater Deal

Law360, New York (October 23, 2012, 2:29 PM EDT) -- BP PLC on Monday asked a Louisiana federal judge to approve a $7.8 billion class action settlement of economic and medical claims stemming from the catastrophic Deepwater Horizon oil spill, saying virtually no valid criticism exists in objections to the deal.

The British oil giant, seeking to close one chapter in a 2010 environmental disaster that dumped nearly 5 million barrels of oil into the Gulf of Mexico, noted that lawyers representing nearly 14,000 objectors have criticized the economic damages settlement. According to the company, however,...
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