Settlement addresses punitive damages from 2010 oil spill

NEW ORLEANS (AP) – Nearly $1.24 billion in punitive damages arising from BP’s 2010 Gulf of Mexico oil spill will become available to property owners and some fishermen affected by the spill under a pending settlement with two corporations that also had a role in the disaster.

A federal court hearing has been set for Nov. 10 on the agreement involving Halliburton Energy Services, Transocean Deepwater Inc. and related companies.

The companies have agreed to pay punitive damages – payments meant to discourage future harmful acts – in addition to earlier settlements for actual damages.

A news release on the settlement released Wednesday says most affected property owners won’t have to file a claim because they have filed claims for actual damages under a 2012 settlement .

(Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s