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Article

18 Apr 2012

Author:
Jonathan Stempel, Reuters

BP proposes Gulf spill accord terms, trial delay [USA]

BP...reached settlements to resolve billions of dollars of claims from the 2010 Gulf of Mexico oil spill, and asked a U.S. judge for a long delay in any trial over remaining disputes stemming from the disaster...The...company expects...to pay $7.8 billion to resolve economic, property and medical claims by more than 100,000 individuals and businesses. That payout would make the accord one of the largest class-action settlements in U.S. history. There is no cap, and the ultimate payout may be higher or lower than BP projects...About 109,000 condominium owners, hotel and resort operators, restaurateurs, shrimpers and others may be eligible to recover on economic and property claims, court papers show. [also refers to Transocean, Halliburton]

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