Gulf Coast Claims Facility Likely to Shield Top Defendants--Richard Nagareda Interview
Monday, August 23, 2010 at 03:20PM
New York Times— People and businesses seeking a lump-sum settlement from BP’s $20 billion oil spill compensation fund will most likely have to waive their right to sue not only BP, but also all the other major defendants involved with the spill, according to internal documents from the lawyers handling the fund.
The documents — which include e-mails, draft and final versions of the protocols, claims forms and legal notes about the administration of the fund — provide the first definitive picture of who will be paid by the $20 billion fund, and how and when.
They also shed new light on the components of the payment plan that are likely to stir controversy, including the fund’s emphasis on geographic proximity as a determining factor for eligibility.
The fund is being administered by a prominent Washington lawyer, Kenneth R. Feinberg, who declined to be interviewed about the documents but verified their authenticity.
Even though BP is the fund’s sole contributor so far, it may still be in its interest that the other companies linked to the spill be protected from claims because they could in turn try to sue BP for payment, said Richard Nagareda, a mass torts expert and law professor at Vanderbilt University.
Scott Drake interview professor Richard Nagareda
