facebook
twitter
rss
account
search
search
 

Judge confirms BP settlement

Dec. 22, 2012 at 12:59 PM   |   Comments

NEW ORLEANS, Dec. 22 (UPI) -- A federal judge in New Orleans confirmed the class-action settlement reached with BP after the Gulf of Mexico oil spill would stand.

The settlement sets out terms of the payouts for businesses and individuals hurt by the 2010 oil spill that spewed 59,200 barrels of oil per day into the sea, CNN reported Saturday.

BP has estimated the settlement would cost $7.8 million. It will come out of a $20 billion trust fund set up to cover damages.

The ruling by U.S. District Judge Carl Barbier confirmed a ruling he made in May. In the recent ruling, Barbier dismissed criticisms of his earlier decision.

"None of the objections, whether filed on the objections docket or elsewhere, have shown the settlement to be anything other than fair, reasonable, and adequate," Barbier said in a 125-page ruling.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
GM recalls 221,000 Cadillacs and Impalas GM recalls 221,000 Cadillacs and Impalas
2
New National Security Cutter delivered to Coast Guard New National Security Cutter delivered to Coast Guard
3
First MT30 engine for Korean Navy frigates passes acceptance tests First MT30 engine for Korean Navy frigates passes acceptance tests
4
Ukraine's State Guard Service receives armored personnel carriers Ukraine's State Guard Service receives armored personnel carriers
5
Navy's Triton surveillance drone flies cross-country Navy's Triton surveillance drone flies cross-country
Trending News
Video
x
Feedback