BP agrees to pay $7.8 billion settlement over Gulf accident, oil spill
BP has announced a settlement with the Plaintiff's Steering Committee that it says will resolve a number of economic loss and medical claims awsuits stemming from the Deepwater Horizon accident and oil spill.
The $7.8 billion cost of the proposed settlement will be paid from a $20 billion trust the company has established. BP says the settlement includes $2.3 billion for economic loss claims related to the Gulf seafood industry.