Fri Dec 21, 2012, 11:18 PM
alp227 (25,026 posts)
U.S. judge approves settlement in BP class action suit
A U.S. judge on Friday gave final approval to BP Plc's settlement with individuals and businesses who lost money and property in the 2010 Gulf of Mexico oil spill.
The order only addressed the settlement of economic and property damage claims, not a separate medical benefits settlement for cleanup workers and others who say the spill made them sick.
BP has estimated that it will pay $7.8 billion to settle more than 100,000 claims in the class action litigation.
U.S. District Judge Carl Barbier initially approved the deal in May, but held a "fairness hearing" in November to weigh objections from about 13,000 claimants challenging the settlement to resolve some of BP's liability for the worst offshore oil spill in U.S. history.
Read more: http://www.reuters.com/article/2012/12/22/us-bp-spill-settlement-idUSBRE8BL02920121222
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U.S. judge approves settlement in BP class action suit (Original post)
Response to alp227 (Original post)
Sat Dec 22, 2012, 04:33 AM
newfie11 (5,195 posts)
3. How much has BP earned in US subsidies even if it is a British company
7.8 billion is a drop in the bucket on what they make.
Then as was said there is that little problem of the oil still apparently leaking from the deep horizon.
Response to alp227 (Original post)
Sat Dec 22, 2012, 11:05 AM
Dustlawyer (2,498 posts)
4. K&R! Bullshit, bullshit, bullshit! I work this litigation. I have been up and down the coast,
from Texas to Key West and all points in between numerous times in the almost 3 years since the spill (it happened on 4/20/2010, yes on 4/20). I have seen the entire Gulf Seafood industry start to swirl the drain. I have seen heartache and devastation that you will not hear about until you read reports on the trials my firm will have someday. This thing is rotten to the core, but you will not hear about it on corporate media. BP has bribed the Plaintiff's steering committee with a 600 hundred million dollar "common benefit fund." The steering committee were appointed by the Judge and have known the Judge for many years? He does what they want and BP knew it. That is why the steering committee got 100 million for getting the trial last Feb reset. BP and the steering committee announced "an agreement in principle" which became this "class action settlement agreement" written by BP, not truly negotiated between parties. This deal is full of traps. You waived your right to trial and are trapped in this settlement if you did not know to opt out of it in writing by 11/1. They created forms for everything (40 total) but for opting out. They are the biggest gulf Coast advertiser since the spill by far. This ensures that no victims story gets out b/c the media do not wish to kill the goose that laid the golden eggs. Once locked into this agreement, they have to take what is offered, if anything. A full 1/3 get nothing, another 1/3 are very unhappy b/c their offer is a pittance. The last 1/3 are ok with what they got only b/c they cannot wait any longer. BP sunk the oil and virtually killed the Gulf just to avoid the government's fine per barrel. They sprayed Corexit everywhere, killing the oysters in Apalachicola Bay. The only industry w/in 100 miles either way is seafood. The state of Florida, Gov. Rick Scott, is paying all of these guys welfare and to retrain as truck drivers/welders ... But you hear nothing of it except "Come on down to the coast..." bull shit! We have opted out 10,800 of the 13,000 opt outs and the Judge refused to let us speak our objections to the settlement which are numerous and detailed. The class fund manager sent letters to our clients that opted out extending the opt in deadline, and providing them a form to opt in and mail back. They did this with no warning behind our backs.
We have fought BP in the 3/23/2005 Texas City, Tx. explosion. We were the only ones to take them to trial then, and probably the only ones that will do it here. Don't believe the bullshit, big corporations can get around just about anything but a trial, so far!