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.
The Houston firm said Friday in its weekly report that 1,575 rigs were exploring for oil and 338 for gas. One was listed as miscellaneous. A year ago there were 1,776 active rigs.
It will be next month before Gov. Bobby Jindal will likely get a chance to change the membership of a South Louisiana flood board that is suing dozens of oil, gas and pipeline companies.
Newly established honor recognizes outstanding local attorneys; Neuner and McGoffin win President's Award; and Blanchard named Outstanding Young Lawyer.
Daily paper constructing new digs near production plant on Rieger Road at Siegen Lane, near I-10.
Investigation finds Arnaud’s Furniture, Carroll Building Specialties and Crazy Charlie’s Shoes running misleading going-out-of-business sales.
Critics say workers and retirees are being held responsible for the Jindal administration's mismanagement of their program.
Potenza Marketing makes fastest-growing companies list.
Local 101 class Friday
“Byzantine” is the word members of the nominating committee for the local flood protection authority often use to describe the complicated, multi-layered matrix of qualifications that must be met to fill a vacancy on that board.
In the Pelican State, Benjamin Franklin buys you about $109 worth of stuff.
Brittan Bush joins Liskow & Lewis, Blake David installed as the Third District Member of the Louisiana State Bar Association’s board of governors, and Simien & Miniex announces 2014 scholarship winners.
“In some cases, we’ve found that these parts are nothing more than used junk yard parts. In others, we’ve found them to be foreign knock-off parts of questionable quality.”
The old Daily Advertiser building on Jefferson Street is being rehabbed as the owner prepares to move it back into commerce.
Its fourth leader gone after two years on the job, the facility struggles to balance the tension between its two missions.
Hub City Cycles hits the ground running through small-business center opportunity.
The future of the coastal loss lawsuit could rest in hands of board’s nominating committee.
Leaders from the local tech community ponder the question: What's missing from Acadiana's tech ecosystem?
AT&T’s U-verse heads our way. Here’s what it means for you.
LITE’s virtual environments are changing the way local employees learn how to do their jobs.
Local tech gurus will go the distance to call Lafayette home.
A look at recent hires, promotions and other news from Acadiana's business community.
New Johnston Street eatery catapults to No. 1 spot in nearly 200-location chain.
By identifying companies that match the output of its post-secondary educational institutions, Lafayette is creating opportunities that keep highly trained graduates in the area.
Gideon’s Promise lauds G. Paul Marx’s work to improve the quality of indigent defense and helps train five new public defenders.
What will INNOV8 4.0 look like?