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Sat Mar 3 05:00:28 GMT 2012


      damn – nola hotels will be pissed!
      ct

      Accord Reached Settling Lawsuit Over BP Oil Spill
      By JOHN SCHWARTZ

      BP and the lawyers for plaintiffs in the trial over the 2010 oil spill in the Gulf of Mexico have agreed to settle their case, the federal judge overseeing the sprawling litigation said. 


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      Judge Carl J. Barbier of Federal District Court in New Orleans issued an order late Friday stating that the two sides “have reached an agreement on the terms of a proposed class settlement which will be submitted to the court,” and announcing that the first phase of the trial, scheduled to begin on Monday, is adjourned indefinitely while the next steps are worked out. 

      “Because such a settlement would likely result in a realignment of the parties in this litigation and require substantial changes to the current Phase I trial plan, and in order to allow the parties to reassess their respective positions” a delay is necessary the one-page order said. 

      The judge’s order did not mention the biggest plaintiff in the BP case: the federal government. Nor did it mention the governments of the Gulf Coast states, which are also suing. The federal government stands to recover billions of dollars in environmental fines, but the extent to which the Justice Department is involved in negotiations with BP is unclear. 

      The explosion aboard the Deepwater Horizon rig in April 2010 killed 11 rig workers and began a spill that for months spewed millions of barrels of oil into the Gulf of Mexico, fouling beaches, killing wildlife and disrupting the economies of Gulf Coast states. 
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