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Settlement OK'd in Katrina oil spill


Published : Tue, 30 Jan 2007 18:51
By : Agencies
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NEW ORLEANS (AFX) - A federal judge on Tuesday approved a settlement between Murphy Oil Corp. and thousands of St. Bernard Parish homeowners over an oil spill that happened during Hurricane Katrina.

In a three-page ruling, U.S. District Judge Eldon Fallon called the $330 million settlement 'fair, reasonable and adequate.' He also approved more than $36 million in attorney fees and costs to be paid by Murphy.

The settlement puts to rest numerous lawsuits filed after a massive oil-storage tank at Murphy's flooded refinery near New Orleans was knocked off its foundation in 2005, unleashing about 25,000 barrels of oil in the surrounding neighborhoods.

Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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