Possible BP deal could tap $14 billion in fund - Houston Chronicle

Possible BP deal could tap $14 billion in fund - Houston Chronicle: by Loren Steffy

"A settlement being discussed between BP and attorneys for hundreds of businesses and others suing over the Deepwater Horizon disaster could tap billions of dollars remaining in a claims fund set up after the accident.

BP pledged $20 billion to the fund in the summer of 2010, but only about $6 billion has been paid to Gulf Coast businesses and individuals. Under one possible deal, the fund would be closed and the balance of about $14 billion used to settle legal claims, according to a person familiar with the negotiations."

'via Blog this'