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>>
Callifornia crabbing: Here's a fun video shot on the decks of the Majestik while catching Dungeness crab off the coast of northern California.
Over 500 lots of seafood processing equipment formerly owned by Adak Seafood will be sold at auction on Tuesday, June 18, starting at 10 a.m. Hawaiian-Aleutian Daylight Time at the Hilton Garden Inn in Anchorage Alaska.
The equipment is located in a recently updated 250,000 square foot state-of-the-art processing facility in Adak, Alaska. Farmington Hills, Mich.-based Hilco Industrial, which conducts 75 machinery and equipment auctions in a wide range of industries annually, will conduct the auction.
Adak Seafood opened originally as Ada Fisheries in Anchorage in 1986. The facility, updated in 2005, is located on the island of Adak, the southernmost city in Alaska near the western end of the Aleutian Islands. The facility processed cod primarily, as well as halibut, blackcod, crab and pollock, Hilco says.
Alaska fisherman and commercial fisheries activist Kevin Adams was elected chairman at the Alaska Seafood Marketing Institute board of directors meeting on May 9 in Anchorage.
The governor-appointed board consists of seven members: five seafood processors and two industry representatives actively engaged in commercial fishing. Adams was appointed to fill a harvester seat by Gov. Frank Murkowski in 2004.
With 38 years of fishing experience in Bristol Bay, Adams has long been an active member in the Alaska fishing industry, ASMI says. He has worked for both the Alaska Fisheries Development Foundation and the Bering Sea Fisherman's Association, and represents Alaska fishermen on numerous boards.