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Sunday, June 23, 2019

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Attorneys in BP settlement will divide $555.2 million

Attorneys in BP settlement will divide $555.2 million

NEW ORLEANS (AP) — A judge has ruled a group of attorneys will divide $555.2 million for their work on behalf of people and businesses who suffered economic damages because of BP's 2010 Gulf oil spill.

U.S. District Judge Carl Barbier (BAHR'-bee-aye) of New Orleans issued a 42-page ruling spelling out reasons for the award, the result of work on a 2012 settlement that is expected to account for at least $13 billion of the energy company's spill-related costs.

Barbier's Oct. 25 ruling didn't specify the number of attorneys involved and said the way in which the money will be allocated will be determined later.

He said the award, which was requested by the attorneys, amounts to about 4.3 percent of the settlement. He said that is modest compared to awards in similar cases.

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