( CNN ) -- A federal judge signed off on BP 's settlement with businesses and people hard hit by the 2010 oil spill in the Gulf of Mexico . U.S. District Judge Carl Barbier in New Orleans issued a 125-page ruling Friday night on a class-action suit . He gave the settlement preliminary approval in May and overruled questions and criticism of the agreement in his Friday ruling . `` None of the objections , whether filed on the objections docket or elsewhere , have shown the settlement to be anything other than fair , reasonable , and adequate , '' the ruling said . `` The low numbers of objections and opt-outs are evidence of the settlement 's fairness . '' BP has estimated a settlement of about $ 7.8 billion paid from a $ 20 billion trust . Thousands of businesses and individuals made claims in Louisiana , Mississippi , Alabama , some coastal counties in eastern Texas and western Florida and adjacent Gulf waters and bays . With the exception of seafood claims , there is no cap on the amount BP will pay to those who agree to the settlement . Feds wo n't do new business with BP . BP will pay $ 2.3 billion to commercial fishermen , seafood boat captains and crew , seafood vessel owners and oyster leaseholders . The money represents `` approximately five times the annual average industry gross revenue for 2007 to 2009 of the seafood industry in the region covered by the settlement agreement . '' It also `` represents 19.2 times lost industry revenue in 2010 , '' the ruling said . The ruling notes that `` the settlement program is processing claims in an `` impressive fashion . '' By last month , 4,500 claims were processed per work . BP said it is pleased the court approved the settlement `` resolving the substantial majority of legitimate economic loss and property damage claims stemming from the Deepwater Horizon accident . '' It called the decision `` another important step forward for BP in meeting its commitment to economic and environmental restoration efforts in the Gulf and in eliminating legal risk facing the company . '' `` We believe the settlement , which avoids years of lengthy litigation , is good for the people , businesses and communities of the Gulf and is in the best interests of BP 's stakeholders , '' it said in a statement . Dean Blanchard , a shrimp processor in Grand Isle , Louisiana , said he opted out of the agreement . He said he would n't have gotten a fair amount of money and is planning his own lawsuit . `` BP is trying to make a one size fits all , '' he said , saying some people and businesses were hit worse than others and deserve more money . `` It 's not right . '' Families of killed rig workers react to BP settlement . The oil spill -- one of the worst in U.S. history -- began after a rig explosion aboard the Deepwater Horizon in the Gulf . Eleven workers died . Oil spewed into the sea for nearly three months before a cap was placed on the BP-owned Macondo well , nearly a mile beneath the surface . The spill damaged coral reef formations , according to researchers . Scientists have previously confirmed that a plume of hydrocarbons from the well settled in the deep Gulf . The National Oceanic and Atmospheric Administration said about 59,200 barrels of oil a day flowed from the well . Last month , Attorney General Eric Holder announced that BP will plead guilty to manslaughter charges stemming from the explosion and the spill . It agreed to pay $ 4.5 billion in government penalties . Of those penalties , $ 4 billion will resolve criminal charges . An additional $ 525 million will be paid to resolve claims brought by the Securities and Exchange Commission that BP lied to investors by understating the amount of oil flowing into the Gulf . Separate from the corporate manslaughter charges , a federal grand jury returned an indictment charging the two highest-ranking BP supervisors on board the Deepwater Horizon on the day of the explosion with 23 criminal counts . The two men were charged with seaman 's manslaughter and involuntary manslaughter for each of the 11 men killed in the blast , as well as a criminal violation of the clean water act . The Justice Department in September also accused BP of gross negligence and a `` culture of corporate recklessness '' in a federal court filing , which expanded the company 's liability . A major civil trial is set to take place in New Orleans in February . The spill : How much should BP suffer ?
With the exception of seafood industry claims , there 's no cap . Comment: BP estimates settlement of about $ 7.8 billion . The judge issued the ruling Friday night .