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BP in talks for $14bn Gulf oil spill settlement

02.27.2012  | 

BP and plaintiffs suing over the 2010 Gulf of Mexico oil spill are in talks for a $14 billion settlement funded by monies originally set aside by the company for out-of-court settlements, Bloomberg News reported Monday, citing three people familiar with the negotiations.

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BP and plaintiffs suing over the 2010 Gulf of Mexico oil spill are in talks for a $14 billion settlement funded by monies originally set aside by the company for out-of-court settlements, Bloomberg News reported Monday, citing three people familiar with the negotiations.

BP would shut its $20 billion Gulf Coast Claims Facility (GCCF) and move the remaining $14 billion to plaintiffs who filed claims contending the spill harmed their businesses and properties, the people said.

The GCCF, set up in August 2010, has paid out about $6 billion so far, according to its website.

The deal with the plaintiffs wouldn't cover potential pollution fines.

The full Bloomberg story can be read by clicking here.


Dow Jones Newswires



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omid
11.27.2012

Sir,U is miss. my propose for US Envir. only thanks

Omid Marzooghpour
02.29.2012

I send One page my propose method to bp deep horizon in 2010 for resolve the problem i think the my procedure is Usage.

Norbert Kreiner
02.28.2012

I wonder how many crooks will get a piece of this Pie!!!

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