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
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
The full Bloomberg story can be read by clicking here.
Dow Jones Newswires