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Cement contractor Halliburton objects to BP's $7.8B Gulf oil spill settlement with plaintiffs
Cement contractor Halliburton is objecting to a proposed $7.8 billion settlement between BP and a plaintiffs group representing more than 100,000 victims of the 2010 oil spill in the Gulf of Mexico.
Halliburton said in a filing in federal court in New Orleans late Tuesday the settlement improperly seeks to assign certain claims that BP has made against Halliburton to the Plaintiffs Steering Committee.
The Houston-based company says allowing the settlement to be approved under those conditions would affect its ability to independently settle with the PSC or individual plaintiffs. Halliburton also asserts it can't be made to contribute to payments BP makes to the plaintiffs without a legal obligation to do so.
Preliminary approval of the momentous settlement is expected to be considered by a federal judge on Wednesday.