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Shrimp Processors Request Delay in BP Oil Settlement Approval

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The American Shrimp Processors Association has asked U.S. District Judge Carl Barbier to delay any preliminary approval of proposed BP oil spill  settlement regarding economic damages from the 2010 Gulf oil spill, saying that the accord is unfair to certain parts of the shrimp industry.

According to the group, the settlement calls for BP to pay $2.3 billion in seafood claims, however, it does not take into consideration “key segments of the shrimp industry” even though shrimp docks, processors and others share “virtually identical” future economic risks as the shrimp harvesters and boat captains who, they say, are favored in the settlement.

Judge Barbier is scheduled to begin a preliminary approval hearing on Wednesday for medical, property, and economic claims made by 125,000 plaintiffs for nearly $7.8 billion. On Monday, the Insurance Journal reports that Barbier said he would consider a BP request to wait until the economic and property claims settlement wins final approval before scheduling any hearing. disclaimer: This article: Shrimp Processors Request Delay in BP Oil Settlement Approval was posted on Tuesday, April 24th, 2012 at 8:02 pm at and is filed under Toxic Substances Lawsuits.

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