Judge gives final clearance to BP's Gulf oil spill settlement

12/23/2012 | San Francisco Chronicle

BP's settlement with the individuals and businesses affected by the 2010 Gulf of Mexico oil spill received final approval from U.S. District Judge Carl Barbier. The U.K. oil major expects to pay $7.8 billion to settle damages claims related to the incident. "We believe the settlement, which avoids years of lengthy litigation, is good for the people, businesses and communities of the Gulf and is in the best interests of BP's stakeholders," said BP spokesman Scott Dean.

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