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7 things we know about the finalized BP oil spill settlement

Author: Jennifer Larino, NOLA.com (USA), Published on: 5 October 2015

U.S. Attorney General Loretta Lynch and other federal officials gathered Monday morning (Oct. 5) to file the details of the $20 billion settlement agreement with BP over the 2010 Gulf of Mexico oil spill in federal court. The 90-page settlement resolves federal and state claims as well as claims over natural resource damage caused by the disaster. Louisiana is set to receive more than $6.8 billion from the agreement the U.S. Justice Department and five Gulf Coast states reached with BP in July. The deal ends years of complex litigation and allows payments to start flowing to clean and restore the coast, compensate for lost local tax revenue and meet other needs.

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