Global energy company Anadarko Petroleum Corp will pay $5.15 billion to those who claim that pollution from the company’s uranium deposits, wood creosote and rocket fuel processing caused cancer and other health problems. The agreement, which was announced on Thursday, ends years of litigation and is the biggest environmental bankruptcy settlement ever, Reuters reports.
The settlement still must be approved by a judge and a federal court after a 30-day public comment period.
“Beyond the unprecedented magnitude of this recovery, the timing of the settlement was critical to ensure the money is promptly available to victims overdue for relief,” John Hueston, the trustee for the plaintiffs, said in a statement.
U.S. Deputy Attorney General James Cole said in a news conference in Washington, D.C. that $4.4 billion of the settlement will go towards cleanup and environmental claims.
Andarko said in a statement tat it would net $550 million in tax benefits from the agreement.
- Alison Roman Won't Sugarcoat It
- If Donald Trump Is Indicted, Here's What Would Happen Next in the Process
- The World's Greatest Places of 2023
- Exclusive: Effective Altruist Leaders Were Repeatedly Warned About Sam Bankman-Fried Years Before FTX Collapsed
- Who Should Be on the 2023 TIME100? Vote Now
- Postmaster General Louis DeJoy's Surprising Second Act
- Gaslighting, Narcissist, and More Psychology Terms You're Misusing
- In This Texas County, There's No Such Thing as Moving on From COVID-19
- In Defense of Nora Ephron's Unfairly Panned Heartburn Movie
- Want Today's Top Headlines in Your Inbox? Sign Up for The Brief
