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Saturday, March 3, 2012

BP in $7.8bn settlement of gulf claims

BP in $7.8bn settlement of gulf claims BP and the lawyers representing tens of thousands of victims of the 2010 Gulf of Mexico oil spill have reached an $7.8bn out-of-court settlement over damages, a US judge has said, delaying the trial that had been due to start on Monday.

In a statement on Friday night, Judge Carl Barbier of the federal district court in New Orleans said “plaintiffs’ counsel and counsel for BP have reached an agreement on the terms of a proposed class settlement which will be submitted to the court for approval.”

http://link.ft.com/r/73UJGG/DW1JXT/RNF1Y5/U10PC5/ZGDSST/QR/h?a1=2012&a2=3&a3=2

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