Six years after a deadly blowout sent a slick of oil floating along the Gulf Coast for months, BP PLC disclosed almost $1 billion in fresh charges that bring its total bill from the disaster to more than $56 billion and counting.
With the enormous number of BP Oil Spill victims still waiting for resolution of their claims, BCA is providing this status update as a “reality check” of where are we now. Brent Coon’s comments and the link to the 2 minute video are below.
Attached is a very important new ruling and Order from the BP oil spill Federal MDL Court regarding the viability of claims brought by hundreds, and perhaps thousands, of businesses and individuals in the oil servicing industry claiming that the impact of the Government shutdown on drilling for a number of months after the Deepwater Horizon well operated by BP erupted, dumping hundreds of millions of gallons of oil into the Gulf of Mexico in 2010.
In early May, with its legal options dwindling and investors impatient, BP Plc saw a chance to negotiate what became a $18.7 billion settlement that ended five years of litigation over the worst offshore oil spill in U.S. history.
While numerous governmental claims brought by the Department of Justice and various State Attorney Generals for damages associated to the oil spill are now settled, it is important to keep these settlements in perspective and continue to ask questions.
OSHA released a long battery of findings hammering the DuPont Chemical Plant in LaPorte Texas today, concluding a six month investigation into a chemical release of toxic methyl mercaptan that killed four workers last November.
The tragedy of the Deepwater Horizon rig explosion, the resulting oil spill, and the pronounced impact it all had on the Gulf of Mexico is now approaching an ignominious five year anniversary. Most of the business industries and employees affected by the spill have yet to be compensated, and many probably never will.
The much troubled BP oil spill class settlement has suffered another major blow with a change in how a loss is calculated for paying a claimant. This new revision to the agreement, called Policy 495, once again materially alters a settlement agreement that was already plagued with a myriad of implementation problems, problems so great collectively that it should never have been approved in the first place.
Originally posted by Miriam Rozen - Texas Lawyer - January 20, 2014
With the Deepwater Horizon oil spill approaching its four-year anniversary in April, the multidistrict litigation stemming from the disaster appears to have no end in sight. [See timeline chart.] After a series of disappointing rulings, Texas plaintiffs lawyer Brent Coon is organizing a meeting with fellow plaintiffs counsel in an effort to extract some of their cases from what he said is a slow-moving MDL. Coon, founder of Brent Coon & Associates, said he would like to move about three-fourths of his clients' 10,000 cases "back to their home courts."
Originally posted by Michael Kunzelman - Associated Press - November 4, 2013
NEW ORLEANS -- A year ago, lawyers for BP and Gulf Coast residents and businesses took turns urging a federal judge to approve their settlement for compensating victims of the company's massive 2010 oil spill.
On Monday, however, the one-time allies will be at odds when an appeals court hears objections to the multibillion-dollar deal. That's because several months after U.S. District Judge Carl Barbier approved the settlement, BP started complaining that the judge and court-appointed claims administrator were misinterpreting it. The London-based oil giant is worried it could be forced to pay billions of dollars more for bogus or inflated claims by businesses.
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