U.S. District Judge Carl Barbier has approved two separate settlements for punitive damages worth a combined $1.24 billion involving Halliburton and Transocean and private claimants harmed by the 2010 Deepwater Horizon oil spill.

The settlements, initially reached in June 2016, will pay about $903 million to a “New Class” of claimants including commercial fishermen, and other groups that were part of certain claims categories involving punitive damages under general maritime law.

The settlements also pay about $338 million to an assigned claims class, including several hundred thousand businesses that previously filed economic loss claims as a result of the BP oil spill. The assigned claims cover those that BP lodged against its Deepwater Horizon partners Transocean and Halliburton as part of a $9.2 billion settlement the energy giant reached in 2012 resolving economic and property damages.

BP has also paid about $13 billion in economic and medical claims as part of an uncapped settlement in addition to a $20 billion settlement resolving economic and environmental claims filed by federal, state, and local governments.

Sources: Law360 and Nola.com

We're here to help!

We live by our creed of “helping those who need it most” and have helped thousands of clients get the justice they desperately needed and deserved. If you feel you have a case or just have questions please contact us for a free consultation. There is no risk and no fees unless we win for you.

Fields marked * may be required for submission.

Continuing the battle with Big Pharma

The entire Beasley Allen staff had our personal interest at heart. We were part of the family of a down to earth, trustworthy, understanding law firm. Thank you, Beasley Allen, for continuing the battle with Big Pharma.