Remember the Deep Horizon oil-rig explosion that resulted in 11 deaths? Well BP is trying to settle with the families of workers killed in the explosion. According to the Wall Street Journal, settlements are ranging from $8 million to $9 million per worker so that BP can avoid anymore negative publicity.
The companies are eager to settle the cases and avoid widely publicized trials, according to people familiar with the talks. If the cases end up before Gulf states jurors, many of whom were affected by the spill, that could lead to huge awards.
You can read more about the settlements here.
- Death Payouts in BP Spill Start at $8 Million (uwtreasures.wordpress.com)
- What spill? Revived BP is stronger than ever (msnbc.msn.com)
- High Payouts in BP-Spill Death Cases (online.wsj.com)