Posted on 07/01/2010 5:48:57 AM PDT by Zakeet
Plaintiffs' attorneys are scrambling to avoid being frozen out by a $20 billion fund aimed at compensating Gulf of Mexico oil-spill victims outside of court.
The attorneys had hoped litigation against BP PLC and other companies involved in the spill would net them tens or even hundreds of millions of dollars in fees. Many quickly turned their attention to the spill in April from what was then the mass tort of the moment, suits against Toyota Motor Corp. tied to unintended acceleration.
But the legal landscape shifted dramatically earlier this month when BP agreed to create a $20 billion escrow fund to pay individuals and businesses suffering losses from the spill.
Administrator Kenneth Feinberg has said the fund would pay claims far more quickly than lawsuits, which could take years in court. He also pointed out that claimants could avoid costly attorneys' fees by filing claims without a lawyer's help. Claimants who receive payouts from the fund would have to waive their right to sue BP.
"People are firing their lawyers left and right," said Daniel Becnel, a Louisiana attorney who has filed numerous claims against BP on behalf of fishermen, shareholders and others.
Lawyers are looking for ways to maintain a foothold in the claims process.
[Snip]
As prospects of an oil-spill jackpot for the plaintiffs bar became less clear, some attorneys who attended Tuesday's meeting were already looking elsewhere for potential targets. Several clustered around a newspaper article describing how two new studies had shown a diabetes pill was tied to heart attacks.
(Excerpt) Read more at freerepublic.com ...
Nice lawyers are looking for ways to assert themselves into the claims process
Foolish ones! Don’t they know those funds are targeted to Obama supporters?
Like flies to s***
Article link is broken — it points to the FR posting form.
I thought the same things when I got an email promising me some of the BP stash...
“Visualize bankrupt trial lawyers”
Sorry about that. Must have had a senior moment.
Try THIS LINK
I don’t know why some enterprising inventor has not developed a *golf ball* scooper.
There are hundreds of workers poking around with shovels - when they could be driving ATVs fitted with mesh scoopers separating fine sand from the oil balls.
Someone figure it out ASAP!!!
It's a GUSHER! Lawyers ho!
Sharks? I was thinking cock roaches.
There is a well established legal process for victims to sue for damages. Yes this takes some time, but that’s because facts take time to collect and both sides have aright to be heard.
This fair legal process has been short-circuited by Obama and the left. People sign away their right to sue and then become solely dependent on Obama’s political team handing out favors. Anyone who takes this deal is a fool
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