New Orleans accepts $45 million settlement from BP

New Orleans accepts $45 million settlement from BP

NEW ORLEANS (WVUE) - New Orleans has accepted a $45 million settlement offer for the alleged economic damages that resulted from the April 20, 2010, Deepwater Horizon oil spill in the Gulf of Mexico.

The settlement, which becomes final upon BP's acceptance of the city's signed agreement, does not include claims, rights and causes of action asserted by the Wisner Donation Trust.

"This disaster not only killed 11 people, but it also became the worst environmental disaster in American history," said Mayor Landrieu. "Let me be clear: this disaster devastated our environment, numerous families and businesses and local economy – from our fisheries to hospitality industries. We will continue to deal with the long-term impacts of this disaster for years to come."

However, Landrieu assures that the settlement is a positive step to begin to repair the damage done.

The City will use the settlement funds for resilience initiatives, including water management and coastal and ecosystem restoration.

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