Judge Gives Final Approval to BP’s Oil Spill Settlement

A federal judge gave final approval on Friday to BP’s settlement with people who lost money and property in the 2010 Gulf of Mexico oil spill. The order only addressed economic and property damage claims, not separate medical benefits claims for cleanup workers and others. BP has estimated that it will pay $7.8 billion to settle more than 100,000 claims in the class-action litigation. Judge Carl Barbier of Federal District Court in New Orleans initially approved the deal in May, but held a hearing in November to weigh objections from about 13,000 claimants who challenged the settlement