US judge approves settlement in BP class action suit
NEW ORLEANS (AP) - A federal judge has given final approval to BP PLC's settlement with businesses and people who lost money because of the 2010 oil spill in the Gulf of Mexico.
BP has estimated it will pay US$7.8 billion (S$9.56 billion) to resolve more than 100,000 claims by businesses and individuals from the nation's worst offshore oil spill. The settlement has no cap; the company could end up paying more or less.
US District Judge Carl Barbier approved the settlement in a 125-page ruling issued on Friday.
"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," he wrote.