In mid-October, Patrick Juneau, the Lafayette attorney appointed to take over the BP claims process from Kenneth Feinberg, told the Houston Chronicle he was optimistic about the fate of the massive BP settlement in the works for thousands of Gulf workers affected by the 2010 BP oil spill. The $7.8 billion partial settlement was reached in early March after thousands of coastal businesses and property owners sued over economic damages.
In an after-hours filing Monday, BP also urged the federal judge overseeing the case to approve it, arguing that the alternative is “all-out litigation that would last many years and have an uncertain outcome for class members.”
“The settlement will bring full compensation to all class members, including those on the Gulf Coast, while resolving a major component of the Deepwater Horizon litigation,” BP lawyers wrote in Monday’s filing. Reports Bloomberg BusinessWeek:
Lawyers representing more than 13,000 spill victims have attacked the settlement, BP said in the filing. Fewer than 1,000 claimants have formally opted out of the deal so far, BP said. The objectors represent “only a small fraction of the total class members,” the company said.
BP, based in London, agreed in March to pay an estimated $7.8 billion to resolve most private plaintiffs’ claims for economic loss, property damage and injuries. The settlement, reached days before a scheduled trial on liability for the 2010 spill, doesn’t cover federal government claims and those of the Gulf Coast states.
In September, Louisiana Attorney General Buddy Caldwell joined Mississippi and an organization representing fisheries in objecting to the settlement. Caldwell filed a brief in federal court, arguing that the cap on payments to fishers could leave the state responsible for a potential fishery collapse like the one that occurred three years after the 1989 Exxon Valdez.
Jefferson Street restaurant and pub debuts during Festival with limited menu.
State bar foundation bestows honor on founder and managing partner of NeunerPate
National awards recognize outstanding achievement in leadership development and leadership programs
A federal court magistrate has issued a seven-page schedule of hearings, conferences and deadlines leading up to January’s trial aimed at determining how much money BP will owe in Clean Water Act fines as a result of its 2010 Gulf of Mexico oil spill.
The state’s “greedy trial lawyers” haven’t scared this oil giant away.
Smaller Microsoft Store installations sell a wide array of Microsoft products (Windows phones, Surface tablets and Xbox consoles) but don’t include everything.
See cutting-edge technologies Thursday in brief presentations/demonstrations from 3rd Dimension Media, C&C Technologies, Cimation and UL Lafayette School of Engineering.
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.