BP Settlement Hearing Set in Federal Court

Apr 25, 2012

BP is heading back to federal court in New Orleans on a proposed settlement over its oil spill two years ago. Shrimp processors are objecting to some terms.

BP is asking a federal judge for preliminary approval of a proposed class-action settlement.  The deal would resolve 125,000 economic, property and medical claims for nearly $8 billion dollars. Some shrimpers are objecting to damage formulas they say shortchange some businesses while they all depend on future shrimp harvests. The judge says he’ll meet next month with BP lawyers asking for a separate trial on claims by their drilling partners, along with the federal and state governments, to be delayed until the claims settlement is approved.