Claimants covered by the settlement are principally commercial fishermen and charter boat operators, and owners whose property was physically touched by the oil, as well as other businesses and individuals whose incomes and livelihoods were affected in the two years after the spill.
Joe Rice, who was the plaintiffs' lead negotiator in the settlements with Halliburton and BP, said: "There are still many issues yet to be resolved related to responsibility for this tragic event four years ago that continues to negatively affect businesses and individuals throughout the gulf coast. But we are gratified that this settlement with Halliburton allows more claimants to be closer to resolution."
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Halliburton said the settlement money would be held in a trust until all appeals against the agreement are resolved over the next two years.
The company has already set aside a provision of $1.3 billion in its accounts for the cost of litigation over the Deepwater Horizon disaster.
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Last year Halliburton agreed to pay a $200,000 fine as it pleaded guilty to destroying evidence that could have been relevant to the investigation into the spill and the civil litigation, and made a voluntary $55 million contribution to the National Fish and Wildlife Foundation.
The US Department of Justice said then that there was an "ongoing criminal investigation" into the disaster. BP and Transocean, the company that owned and operated the Deepwater Horizon rig, have both agreed settlements of criminal actions from the justice department, but Halliburton has not.
—By Ed Crooks of the Financial Times