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 says most affected property owners won’t have to file a claim because they have filed claims for actual damages under a 2012 settlement.
Was this article valuable?
Here are more articles you may enjoy.
Florida OIR Orders Unlicensed RRG to Cease and Desist After Owners Arrested 
State Farm to Increase Claims Workforce by 3,000 
NY Governor Urges Review of Cornell Response to Assault Case 
Luxury Car Rental Company Owner Staged Crash for Insurance 
