BP expects to pay $7.8 billion in Gulf spill suit deal

March 3, 2012 at 4:42 am in Grand Forks Herald

BP’s settlement of lawsuits filed by more than 100,000 victims of the worst offshore oil spill in U.S. history goes a long way toward resolving pending claims. But the question remains, will Americans who live along the Gulf of Mexico go for it? BP expects to pay out $7.8 billion and anticipates that a separate claims fund run by Ken Feinberg will cease at some point. New vehicles will be set up and supervised by the court to pay claims as part of Friday’s settlement. Continue Reading