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Shrimp processors object to BP settlement terms

3 years ago April 23, 2012 Apr 23, 2012 Monday, April 23 2012 Monday, April 23, 2012 11:48:11 AM CDT in News

NEW ORLEANS (AP) - A group of Gulf Coast shrimp processors is asking a federal judge to hold off on preliminarily approval of portions of BP's proposed class-action settlement of economic damage claims spawned by the 2010 oil spill in the Gulf of Mexico.

The deal calls for BP to pay $2.3 billion for certain seafood-related claims, but a court filing Monday by the American Shrimp Processors Association argues its members are unfairly excluded from that part of the settlement.

The group says the settlement is more favorable for shrimp harvesters and boat captains than processors even though they are in the same industry and have nearly identical future economic risks.

U.S. District Judge Carl Barbier scheduled a hearing Wednesday on the request by BP and the Plaintiffs' Steering Committee for his preliminary approval

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