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Subscribe to RSSLawyers involved in litigation over the oil spill say they were shocked to learn that BP is allowed to use the $20 billion fund it set up last week for purposes other than compensating people suffering economic losses, including paying litigation costs.
"That was sold to the American public as a compensation fund. And now we have learned that they can use it for whatever the heck they want to use it for," Robert Kennedy, an environmental lawyer and activist, told Reuters at a conference today in Atlanta on litigation over the spill. "It's another subterfuge by BP, one of the many that we have discovered recently."
Reuters quotes Perry Weitz, a prominent tort lawyer who spoke at the conference: "Imagine if BP uses a significant portion for clean-up costs. What's left for the victims?"
Michael Rozen, a partner in the law firm administering the fund, acknowledged that the money "is available for all manner of costs," but he stressed that all legitimate claimants would be paid.
"Twenty billion maybe isn't sufficient for the mass of stuff that's aired, in which case BP will have to add more," he said. "If that should be the case, people still have their rights and remedies under law."
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And now we know the rest of the story! Looks like all the money will go for legal fees. More Hope and Change that you can believe in. Good Luck America.
The fund was set up so the lawyers would NOT get their cut, not so they would, that is why they are upset!
One surprise after another---who allowed this to occur and who agreed to it? I want an answer from the White House and those in charge. They owe it to ALL residents of the Gulf who have lost so much in the process. It is time to up the ante---no wonder it was all smiles after their meeting to place the screws, once again, to the 'little people!'
Why does it matter if the fund can be used for other purposes. This isn't a capped fund, when the costs exceed 20 billion dollars, BP is obligated to either compensate claimants in other ways, or more likely, add more money to this fund as the infrastructure for payments will already be set up through the trustee.
If this was a capped fund, then yes, there would be concern.
it sure looks bibicial to me...
Layers Altrusim
Just looking out for the little people.
: -) What do you call 1,000 lawyers chained together at the bottom of the Gulf? A good start!
(You can substitute 'lawyers' to 'BP Corporate,' or anyone else you wish!)
Blood sucking lawyers complaining they won't get their share of the spoils. For the fairness to everyone who was affected lawyers should be excluded from this money. Anytime they get involved they are the ones who profit, not the ones involved.
Of course the lawyers are upset about the fund because they realize they are not getting their 35% cut of the 20 billion, how are they going to pay for their Yachts?
Lawyers who have not been even touched by the spill will be the ones to make the most of it. Good for them, they always win! Even very incompetent lawyers like Marica and Chris who prosecuted O. J. ended up becoming millionairs by writing books about how incompetent they are! May God Bless America!
Spill Baby Spill (This is a prayer by lawyers now)!
Isn't that the truth just like the mantra of those who don't care what happens to the people in the gulf region is Drill Baby Drill!
(As per attorney Rozen) "Twenty billion maybe isn't sufficient for the mass of stuff that's aired, in which case BP will have to add more," he said. "If that should be the case, people still have their rights and remedies under law."
It's all well and good to be blase about this ecological and economic nightmare, but it isn't that simple. I wonder if Mr. Rozen is aware of how Exxon went through their legal dance in the courts, filing one appeal after the other for two decades. In the end, the amount owed to Alaskan claimants was reduced in the US Supreme Court and Alaskans who were impacted, were 'nickel and dimed.' Many died before payment was made two decades later. Does anyone really think the outcome will be any different for Gulf Coast residents this time around? I forgot, those with legitimate claims "still have their rights and remedies under the law!"