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Home News-Telegram News State News Judge hears details of Gulf oil spill settlement

Judge hears details of Gulf oil spill settlement

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NEW ORLEANS (AP) — A federal judge in New Orleans says he is "leaning in favor of" giving his preliminary approval to a proposed class-action settlement that would resolve billions of dollars in claims against BP over the 2010 oil spill in the Gulf of Mexico.

U.S. District Judge Carl Barbier said during a hearing Wednesday that he plans to rule within a week on whether to preliminarily approve the deal. Barbier would hold a "fairness hearing" later this year before deciding whether to give his final approval.

The deal between BP and a team of plaintiffs' attorneys is designed to resolve more than 100,000 claims by people and businesses who blame economic losses on the spill.

BP estimates it will pay about $7.8 billion to resolve these claims, but the settlement isn't capped.

 

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