Tag Archives: eligible
iStock_000012971601_Large

BP Oil-Spill Settlement Approval Upheld by Appeals Court

Bloomberg-Approval of BP Plc (BP/)’s $9.2 billion partial settlement of private-party claims from the 2010 Gulf of Mexico oil spill was upheld by a U.S. appeals court. Objectors said the settlement was unfair and couldn’t be approved because it inconsistently compensated victims with the same types of economic injuries. London-based BP asked the court to […]

iStock_000004880552_Large

BP Settlement Program Timeline for Compensation of Claims

• Early March 2012 – BP and the Plaintiff’s Steering Committee reach a negotiated settlement which, with court approval, will become the Deepwater Horizon Court-supervised Settlement Program (“DHCSSP”). Once approved, BP will terminate the Gulf Coast Claims Facility (“GCCF”), BP’s own claims center which had operated for nearly two years and paid out billions of […]