Liability Risk and Insurance
Environment Affairs
Deepwater Horizon class action settlement program winding down
BP plc (BP) has revealed that the court-supervised settlement program (CSSP) established as part of the Deepwater Horizon
class action settlement is winding down. BP said it now expects to take a post-tax non-operating charge of around US$1.7 billion
in its fourth quarter 2017 results for the remaining business economic loss (BEL) and other claims associated with the CSSP.
The cash impact is expected to be spread over a multi-year period.