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BP urges judge to approve spill settlement

NEW ORLEANS (AP) - BP PLC argues its proposed class-action settlement of economic damage claims spawned by the 2010 Gulf of Mexico oil spill shouldn't be derailed by the "remarkably low" number of individuals and businesses objecting to the deal or asking to opt-out of it.

In court filings late Monday, BP and plaintiffs' attorneys who brokered the deal urge U.S. District Judge Carl Barbier to give it final approval. Roughly 200 people and groups formally objected to the deal, while 983 potential claimants asked to opt out of the settlement as of Oct. 19.

More than 100,000 plaintiffs could benefit from the deal. BP cited the numbers as proof Barbier should approve the agreement after a Nov. 8 hearing. BP estimates it will pay $7.8 billion to resolve claims through the uncapped settlement.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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