5th Circ. Upholds BP's $9B Deepwater Settlement
Law360, Los Angeles (January 10, 2014, 11:45 PM EST) -- The Fifth Circuit on Friday upheld a district court’s order and judgment approving BP PLC's multibillion-dollar settlement of claims for lost business tied to the Deepwater Horizon disaster, saying a lower court judge didn't need to determine whether some eligible class members lacked an injury caused by the spill.
In a 2-1 ruling, a three-judge panel upheld U.S. District Judge Carl Barbier's December 2012 decision approving the $9.2 billion settlement and certifying the economic and property damages settlement class, rejecting arguments by BP and some class members that the deal is improper because it has been structured so that businesses that...
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