Bloomberg – Jim Hood Fights BP Gulf Spill Settlement
BP Plc (BP/)’s multibillion-dollar deal to settle private economic damage claims from the 2010 Gulf of Mexico oil spill should let victims who agreed not to sue in exchange for early payments participate in the new settlement, Mississippi Attorney General Jim Hood said in a court filing.
BP should “nullify the illegal, illegally-obtained and unconscionable” releases victims signed with the Gulf Coast Claims Facility, which administered spill-damage claims for BP, Hood said in a filing today in federal court in New Orleans.
Hood seeks to void hundreds of millions of dollars in so- called quick-pay settlements given to spill victims. Individuals received $5,000 and businesses got $25,000 through the quick-pay claim system, regardless of the magnitude of damages they suffered from more than 4.1 million barrels of oil that spewed from BP’s well off the Louisiana coast in 2010.
Bloomberg
4/25/12
Magnolia Tribune
