NEW ORLEANS (AP) — BP agreed late Friday to settle lawsuits brought by more than 100,000 fishermen who lost work, cleanup workers who got sick and others who claimed harm from the oil giant’s 2010 Gulf of Mexico disaster, the worst offshore oil spill in the nation’s history.
The momentous settlement will have no cap to compensate the plaintiffs, though BP PLC estimated it would have to pay out about $7.8 billion, making it one of the largest class-action settlements ever. After the Exxon Valdez disaster in 1989, the company ultimately settled with the U.S. government for $1 billion, which would be about $1.8 billion today.
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Going only from memory here, but I believe BP already received ~1.5 bln from Mitsui, 4 bln from APC, and about 0.5 bln from CAM + WFT.
Now let me ask this, if APC owned 25% of the well and total payout comes to be this 7.8 bln that BP is estimating; does that mean APC will get a refund? 25% of 7.8 bln is only 1.95. APC should get back 2.05 bln.