In Re: Methyl Tertiary Butyl Ether ("MTBE") Products Liability Litigation, No. 1:2000cv01898 - Document 4366 (S.D.N.Y. 2016)

Court Description: MEMORANDUM OPINION AND ORDER: Currently before the Court is plaintiffs' request for judicial approval of the Judicial Consent Order ("JCO"), which recites the terms of their settlement with Coastal Eagle Point Oil Company and El Paso Corporation (the "Coastal Defendants"). The JCO resolves all claims against the Coastal Defendants for twenty million dollars. In addition, the JCO is accompanied by a stipulation whereby plaintiffs agree "to reduce any jud gment... [by] any portion of any judgment under the New Jersey Spill Compensation and Control Act... that is allocated by the fact finder in this action to Coastal based on its percentage of relative fault." For the reasons stated below, plaintiffs' request is GRANTED. (As further set forth in this Order) (Signed by Judge Shira A. Scheindlin on 1/28/2016) Filed In Associated Cases: 1:00-cv-01898-SAS-DCF, 1:08-cv-00312-SAS(kl)