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After BP Settlement Attention Will Shift to Civil and Criminal Penalties From Oil Spill

According to reports, in the wake of BP's $7.8 billion dollar settlement with Plaintiffs over the Gulf Coast oil spill, the company's financial focus will now turn toward possible fines with the United Sates government. Sources say that BP may face as much as $17.6 billion in civil pollution fines and possibly billions of dollars more in criminal penalties.

Reportedly, BP has committed to pay an estimated $7.8 billion to resolve private plaintiffs' claims for economic loss, property damage, and personal injuries. Sources close to the settlement say it is to be paid from a $20 billion trust for spill victims set up in 2010. However, the settlement does not cover the federal and state government environmental damage claims. Sources say that BP has set aside $37 billion to cover spill costs.

According to legal sources, because plaintiffs' lawyers and government officials have worked together to gather evidence about whom is at fault for the spill, U.S. Justice Department attorneys are likely to take the lead in the case.

If you or a loved one have a personal injury claim relating to exposure to chemicals or harmful agents in the cleanup of the BP Oil Spill, contact our office by completing the form on this website or call now at 1-877-892-2797 for a free and confidential consultation on how we may be able to assist you in recovering just compensation.