FINANCIAL TIMES: …In a joint filing to the New Orleans court that has been hearing the damages case, BP and the steering committee for the plaintiffs’ lawyers asked it to approve the deal, agreed in principle in March.
In some cases, fishermen affected by the spill will be able to claim more than nine times their losses under the terms of the deal, although multiples of three to four times are more common, varying according to the type of business affected.
BP has also agreed to allow up to $600m in fees for the plaintiffs’ lawyers, in addition to payments made in the settlement… (more)
