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AIG Pays $23M In Gulf Oil Spill Claims; Total May Rise

NEW YORK - (AP) Taxpayers took another hit, this one indirect, from the oil spill caused by the Deepwater Horizon rig explosion through insurance claims related to the disaster. AIG, the insurance giant that is 80 percent owned by the government, said it paid approximately $23 million in claims following...

Parties Debate Consolidation Of ERISA/Securities Actions Against BP

WASHINGTON, D.C. - Several plaintiffs in ERISA class actions pending against BP have told the Judicial Panel on Multidistrict Litigation that consolidation with securities claims and transfer of their cases to the Southern District of Texas is inappropriate (MDL 2189). In August, the Judicial Panel...

Judge Gives Preliminary Approval Of Settlement Of Gulf Oil Spill Claims

NEW ORLEANS - (Mealey's) The Louisiana federal judge overseeing the multidistrict litigation for claims arising from the explosion of the Deepwater Horizon rig and ensuing oil spill in the Gulf of Mexico gave preliminary approval for two separate class settlement agreements May 2, one resolving certain...