Lawyers for plaintiffs harmed by BP’s 2010 Gulf of Mexico oil spill announced the terms last week of the settlement agreement it reached with the oil giant in March. The settlement, which establishes new rules of compensation for some 110,000 specific plaintiffs just two years after the Deepwater Horizon explosion April 20, 2010, has been welcomed by many legal analysts as a monumental achievement, considering its complexity and scope. The settlement will be entirely funded by BP, and except for a $2.3 billion limit on commercial fishing claims, no cap has been set on the amount of damages BP will ... Read More
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