TBA Law Blog

Posted by: Brittany Sims on Nov 15, 2012

BP will pay $4.5 billion to resolve federal criminal and securities allegations in connection with the Gild oil spill, the ABA Journal reports. As part of the plea deal, BP will plead guilty to 14 criminal charges, including 11 felony counts related to loss of life in the oil spill and one felony count for obstruction of Congress. According to the Wall Street Journal, the settlement includes $1.26 billion in criminal fines, and for BP to pay $2.394 billion to the National Fish & Wildlife Foundation and $350 million to the National Academy of the Sciences.