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Settlement talks continue in suit over 13-year-old oil leak

5 years 6 months 3 weeks ago Thursday, November 02 2017 Nov 2, 2017 November 02, 2017 12:09 PM November 02, 2017 in News
Source: Associated Press
By: Associated Press
BATON ROUGE- A company that has failed to stop a 13-year-old oil leak in the Gulf of Mexico is asking for more time to negotiate a settlement that could allow it to recover millions of dollars it set aside for work to end the leak.
A court filing Thursday says Taylor Energy Co. representatives and U.S. officials have met four times in the past year to discuss possible terms of a settlement that would resolve its lawsuit against the federal government.
Justice Department attorneys joined the company in asking a federal judge for more time to negotiate.
Taylor Energy claims regulators violated an agreement requiring the company to deposit approximately $666 million in a trust to pay for leak response work. The company argued the government must return the remaining $432 million.

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