A federal judge last Friday approved BP’s settlement with more than 100,000 businesses and individuals harmed by the 2010 Gulf of Mexico oil spill. In a 125-page ruling issued on Friday, Dec. 21, U.S. District Judge Carl Barbier wrote: “None of the objections, whether filed on the objections docket or elsewhere, have shown the settlement to be anything other than fair, reasonable, and adequate.” Barbier had granted preliminary approval of the settlement in May, but did not issue his final ruling until after a fairness hearing and providing time for any interested parties to opt out of the proposed settlement. Although the settlement has no cap, BP has estimated it will end up paying approximately $7.8 billion to resolve claims that were part of the multidistrict lawsuit. Thousands of parties opted out of the multidistrict litigation in order to pursue individual cases. The Mobile, Alabama, oil spill attorneys at Long & Long continue to investigate potential claims stemming from the worst offshore oil spill in U.S. history. If you’re a business owner or property owner who suffered income loss of diminution of property value related to the oil spill, we may be able to help you recover financial compensation. We are currently evaluation possible claims related to:
Time to seek compensation for damages related to the BP Gulf of Mexico oil spill is limited. Please contact Long & Long as soon as possible for your free case evaluation if you experienced financial harm or diminished property value as a result of the oil spill.