A federal judge has given final approval to BP's settlement with a bulk of businesses and individuals who lost money because of the 2010 oil spill in the Gulf of Mexico.
BP PLC has estimated it will pay $7.8 billion to resolve economic and medical claims from more than 100,000 businesses and individuals hurt by the nation's worst offshore oil spill. The settlement has no cap; the company could end up paying more or less.
U.S. District Judge Carl Barbier, who gave his preliminary approval in May, made it final in a 125-page ruling released Friday evening.
"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," he wrote.
Read the full story at Claims Journal>>
National Fisherman Live: 11/06/14
In this episode:
NOAA report touts 2013 landings, value increases
Panama fines GM salmon company Aquabounty
Gulf council passes Reef Fish Amendment 40
Maine elver quota cut by 2,000 pounds
Offshore mussel farm would be East Coast’s first
NOAA and its fellow Natural Resource Damage Assessment trustees in the Deepwater Horizon oil spill have announced the signing of a formal Record of Decision to implement a gulf restoration plan. The 44 projects, totaling an estimated $627 million, will restore barrier islands, shorelines, dunes, underwater grasses and oyster beds.