BP's Guilty Plea, $4.5B Criminal Spill Deal Win Approval

Law360, New York (January 29, 2013, 3:39 PM EST) -- A federal judge on Tuesday approved BP PLC's agreement with the U.S. Department of Justice to plead guilty to manslaughter and other charges and pay a record $4.5 billion to resolve criminal and securities claims from the 2010 Deepwater Horizon oil spill.

U.S. District Judge Sarah Vance accepted a settlement BP and prosecutors struck in the fall, under which the company admitted responsibility for the deaths of 11 workers killed on the rig and agreed to shell out the largest criminal penalty in history.

An April...
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