US to press on with $18bn BP lawsuit despite settlement The other three pillars in that trial are claims outstanding from the states of Louisana and Alabama, counter-claims between BP and its former Deepwater partners including Transocean, and civil claims under the Clean Water Act from the federal government.In addition, BP is facing shareholder lawsuits in Houston. Shareholder reaction seemed positive: "Overall this will probably be seen as good news. More the reduction in uncertainty than the number involved," said Robert Talbut, of Royal London Asset Management, which owns 0.37pc of BP's shares. The settlement was made between BP and the Plaintiffs" Steering Committee (PSC), which represents 110,000 local businesses and individuals from the US Gulf coast who claim to have lost out financially as a result of the spill. The settlement is preliminary, and is subject to final written agreement, which must be made within 45 days, as well as court approval. The New Orleans trial has now been indefinitely postponed pending clarity on the implications of the settlement. BP has maintaned it was not the only company at fault in the spill.