Carl Barbier, US District Judge, is ready to hear a proposed class-action settlement over the damages done by the British Petroleum oil spoil in the Gulf of Mexico in 2010.
The agreement, which will hopefully settle billions of dollars in claims, will be presented by BP PLC and a team of lawyers representing the plaintiffs and what they say is more than 100,000 individual claims brought by those who have been hurt economically by the spill. Included among the plaintiffs are both individuals and businesses.
Judge Barbier is due to hear the request on Wednesday.
There is no upper limit on the amount of the settlement, but as of now BP is estimating it will be paying out approximately $7.8 billion in claims.
The deal was first announced earlier this year, on March 2, with the details of the agreement spelled into a detailed document of hundreds of pages which was filed last week.
Sorry, comments are closed for this post.