$7.8 Billion BP Settlement Wins Preliminary Approval

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UPDATE: The Settlement Administrator websites for the Deepwater Horizon action settlements are up! See our Open Class Action Settlements section for details on how to file a valid claim.

BP has received preliminary approval of a $7.8 billion class action lawsuit settlement that will resolve more than 100,000 individual and business claims from the 2010 Gulf of Mexico oil spill.

The government estimates more than 4 million barrels of oil were spilled and not cleaned up after the April 20, 2010 explosion of the Deepwater Horizon, causing economic and property damage to nearby hotel and resort operators, condominium owners, restaurateurs, shrimpers and others.

The BP settlement will cover these claims in addition to medical claims by people who became ill from the exposure to oil or chemical dispersants. The medical portion of the class action settlement also covers clean-up workers and residents of beachfront or wetland areas, and even allows people who develop symptoms later in life to sue BP at that time.

The BP class action lawsuit settlement does not cover claims from the U.S. government or Gulf Coast states, which could amount to tens of billions of dollars.

U.S. District Judge Carl Barbier said the BP settlement agreement was “fair, reasonable, and adequate,” was reached without collusion, and had “no obvious deficiencies.”

A Fairness Hearing is set for November 8.

If approved, the $7.8 billion BP settlement will be one of the largest class action settlements in U.S. history.

The case is In re: Oil Spill by the Oil Rig “Deepwater Horizon” in the Gulf of Mexico, on April 20, 2010, Case No. 10-md-02179, U.S. District Court, Eastern District of Louisiana.

UPDATE: On Jan. 10, 2014, the U.S. Appeals Court upheld approval of the Deepwater Horizon class action settlement, rejecting BP’s and objector’s arguments that the deal is unfair or that claims are being improperly paid.