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March 3, 2012

BP Settlement Reached: In principle agreement to compensate hundreds of thousands of oil spill victims

Following extensive negotiation and a week-long trial delay issued by Judge Carl Barbier in the BP multidistrict litigation (MDL), the Plaintiffs' Steering Committee (PSC) for the MDL has reached a settlement in principle with BP that, if approved by the court, would compensate hundreds of thousands of individuals and businesses affected by the Deepwater Horizon disaster. These lawsuits were consolidated in the MDL In re Oil Spill by the Oil Rig "Deepwater Horizon" in the Gulf of Mexico, on April 20, 2010, No. 10-md-02179 (U.S. District Court for the Eastern District of Louisiana).

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