As seen on the wires:
A settlement would put to rest a slew of lawsuits filed after a massive oil storage tank at Murphy’s flooded refinery in Meraux was knocked off its foundation during [Hurricane Katrina]. The tank broke, unleashing about 25,000 barrels of oil on the surrounding neighborhoods, churches, canals and playgrounds.
Murphy concedes no wrongdoing in the settlement of one of the biggest urban oil spills in American history. Plaintiffs had alleged that the refiner failed to follow best practices by not filling the tank up with fluids so that it would be stable during storms.
The settlement identifies a range of compensation for property owners, depending on how far they were from the spill. If the deal is approved, Murphy would seek to buy about 570 homes on the four streets next to the refinery and tank farm.
Apparently the judge handling the suit has spoken favorably about the settlement and is expected to approve it soon. It’s reported to be a $330 million package covering properties.