Judge limits attorneys' fees in BP case

Order: attorneys must limit their contingency fee arrangements to 25% of any recovery a plaintiff receives plus reasonable costs

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News Wires

 18 June 2012 01:41 GMT

A federal judge overseeing the massive litigation stemming from the 2010 Gulf of Mexico oil spill issued an order on Friday capping the amount attorneys can charge plaintiffs who participate in a settlement with BP.

US District Judge Carl Barbier in New Orleans gave preliminary approval last month to an estimated $7.8 billion settlement BP reached to resolve more than 100,000 claims by individuals and businesses affected by the spill.

In his order on Friday, Barbier ruled that attorneys for plaintiffs who settle claims through the settlement must limit their contingency fee arrangements to 25% of any recovery a plaintiff receives plus "reasonable costs", Reuters reported.

Barbier emphasised that the 25% figure was a ceiling and that attorneys were free to charge less.

"In many cases,…

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