April 20, 2010 An explosion on BP Exploration & Production Inc.’s Deepwater Horizon drilling rig kills 11 men and causes massive oil pollution in the Gulf of Mexico.
March 3, 2012 BP, represented by Kirkland & Ellis, announces a settlement of private economic and property damages claims; BP’s liability is not capped under the deal, but the company says it believes it will cost $7.8 billion. The settlement includes “causation tests” that analyze financial data to determine if a claimant qualifies for an award.
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