In the two weeks since he was appointed by the court to supervise the BP settlement’s claims process, Lafayette attorney Patrick Juneau has paid 1,096 claimants about $27 million.
“Not a single business day has gone by since March 8, 2012, when payments to claimants have not been made,” Juneau said in a statement released Friday. Juneau was appointed by the federal court to administer the proposed $8 billion settlement that Lafayette attorney Jim Roy and other local attorneys helped negotiate with BP as a result of the 2010 Deepwater Horizon explosion that killed 11 men and sent millions of gallons of oil into the Gulf.
Juneau is to the court settlement what Kenneth Feinberg was to the Gulf Coast Claims Facility. The court established a transition process as a bridge between the GCCF and the new claims center that will replace the Feinberg-run facility. The settlement, which is uncapped, is not yet final and is ultimately subject to the approval of the court.
Since the court’s order, almost 5,000 new claims have been filed in the transition process, including more than 1,700 from claimants who never before filed a claim. Almost $20 million of that money went to 619 claimants who hadn’t accepted a final offer from the GCCF before Feb. 26. Under the settlement, those 619 claimants got 60 percent of their final offers while they decide whether to opt into the settlement class.
Claimants receiving 60 percent now will never lose the right to get the 40 percent balance of their final offer. They may even get more if they are a member of the settlement class and receive an offer that is greater than the 40 percent from the court supervised settlement program, according to Juneau. He says the court’s order allows these claimants to receive the greater of the 40 percent balance of the GCCF’s offer or the offer from the court program in exchange for signing a release. If a claimant is not part of the settlement process or opts out of that process, the claimant may receive the 40 percent at that time, after signing a release.
Plaintiffs’ attorneys have maintained that those with claims could receive a more lucrative offer by participating in the settlement.
“We want the people of the Gulf to know that they may still file claims,” Juneau says. “When the new program opens, any claim that has not yet been decided will be transferred to the new facility, so there is no need to wait.”
C & C Technologies, HIT Fitness, R3 Sciences, the Acadiana Symphony Association and the United Way of Acadiana recognized for innovation.
Under the deal, Teche shareholders would get 1.162 shares of IberiaBank for each share of Teche stock.
Dave Perkins, LCG Comp Plan honored along with local architects and designers at the 2014 INDesign Awards
Greg Manuel’s Lafayette-based residential development company is taking advantage of exponential industrial growth in Lake Charles.
Longtime Lafayette retailer ventures online.
The annual juried competition recognizes excellence in architecture, interior design and historic preservation in Lafayette and the five surrounding parishes.
It’s not how aggressive or conservative you are — it’s planning for risk that matters most.
Cypress Bayou GM hosts open house.
Thanks to cutting-edge digital technology, more and more consumers are banking on ATMs and mobile phones.
Regional bank bids farewell to Downtown May 30
ABiz takes a look back at the most noteworthy moments for the local banking industry over the last year.
Most experts say short-term interest rates will be unchanged through 2014, but long-term rates are inching up.
New hires, promotions, transfers in Acadiana business
The scion of a landmark Four Corners restaurant climbs back into Lafayette’s culinary scene as franchisee for a popular burger chain.
Largest recruitment event in Acadiana returns May 21 to the Cajundome Convention Center
A lawyer’s ad should only be a starting point, as there is much more to consider when seeking quality representation.
Thanks to the inaugural 2012 INNOV8, a design for lifting heavy objects was brought to market.
His company bankrupt and being liquidated, the Lafayette businessman’s financial troubles are mounting.
Georgia-based fried chicken chain would go up against Raising Cane’s, Chick-fil-A and others (like the Popeyes near its proposed location).
A Scott businessman has pleaded guilty to failing to report a conspiracy to award Opelousas Housing Authority construction bids to his company.
Court-appointed examiner says Lafayette businessman was “effectively on both sides” of transactions, opens door for legal action against him.
Lafayette-based insurance broker/risk management group bought by Florida firm for undisclosed sum; principals Landry and Harris continue to run local operations.
The House labor committee rejected bills Thursday that would have set the state minimum wage higher than the hourly federal rate of $7.25 and would have allowed local governments to set their own minimum wage.
Of the major oil- and gas-producing states, Louisiana gained nine rigs, Texas increased by seven, California gained three and New Mexico increased by one.
The Louisiana Workforce Commission said Friday that initial claims rose to 2,101 from the previous week's total of 1,985. There were 2,444 initial claims during the comparable week in 2013.