BP $4.5B Spill Deal Sets Stage For Expanded Enviro Work

Law360, New York (November 19, 2012, 8:49 PM EST) -- BP PLC's $4.5 billion settlement resolving criminal claims over the Deepwater Horizon oil spill steers unprecedented funds to a federally chartered wildlife group, offering a clear picture of how the larger civil payments expected from the company will boost Gulf Coast restoration projects.

BP last week agreed to pay $4 billion and plead guilty to felony misconduct to put to rest criminal charges, and pay an additional $525 million to resolve securities violations related to the spill, marking the largest-ever U.S. criminal settlement.

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