Independent Investigative Journalism and Commentary from New Orleans, LA
Sunday NY Times article on the BP Settlement:http://www.nytimes.com/2014/04/27/us/how-a-gulf-settlement-that-bp-once-hailed-became-its-target.html?hp"However, BP was disappointed in the clean bill for Mr. Juneau, and plaintiffs’ lawyers worried that what Mr. Freeh saw as cronyism was the way the center had been intended to work. A recent post on a local blog includes email exchanges showing that lawyers were at one point even allowed to expedite the claims of some of their clients as an apparent early test of the system."You've made the Sunday NY Times!!!
The NY Times article raises more questions. “But perhaps nothing has been as drastic as the company’s change in attitude toward the process it helped set up in 2012 to settle hundreds of thousands of economic damage claims. In full-page newspaper ads, interviews and a gusher of court filings, BP officials have insisted that their good intentions are being hijacked by greedy lawyers and underhanded claimants.”Are they referring to the PSC or class members? Lets remember this settlement was designed by the data captured under GCCF, the NAIS Classification, the excluded claims, the causation tests and the zones developed by Fienberg using the zip codes. These people relying on the class notification and settlement language created and negotiated by BP's team of attorneys. BP knew how many claims would be paid and how many would get screwed out of any recovery by the provisions and test agreed upon. NO SUPRISE !!!! “The sticker price had been climbing rapidly. In a quarterly report released in February 2013, BP had raised its estimate of the costs of litigation to $8.5 billion. By July, that estimate had jumped to $9.6 billion, with a caveat that the end cost could be “significantly higher.” At one point in the spring or summer of 2013, the claims center gave BP its own projection of the final cost: $19.5 billion.”Why did BP revise their estimate to 9.6 when the data was projected at 19.5 billion? Later we found out that BP had access all along to the clients data until the judge order them to destroy it. Was the Claims Administrator holding back offers, he was able to provide the estimate what was it based on?Was he still expediting claims for the PSC and their JV partners before he released the projections? “A recent post on a local blog includes email exchanges showing that lawyers were at one point even allowed to expedite the claims of some of their clients as an apparent early test of the system.”They refer to the expedited claims in your post as an apparent test, all emails listed or labeled as expedite claims. Didn’t Sutton state that he continued to expedite claims after the Fairness Hearing and this so call test should have been completed? And this so called test didn’t follow the instructions given to B&G to pay 3 claims across the claim types. Summary Status reports shows 60 coastal claims in process with only two firms submitting 30 each. The ones that received offers were 7 BEL claims and 65 Seafood. Of the 65 Seafood claims paid did they spread this test out between the firms or did one or two groups receive all the payments. I still find it hard to justify calling this a test or a sample of random claims without the Start up and Failed Business claims included. NY Times dig a little deeper and find out what firms received the payments on the test and confirm they were spread across the listed firms. Then dig into all the claims paid and see who’s pulling in all the payments, BP stated 3 of the top firms are PSC members pulling in the largest amounts of all payments. Class counsel is responsible to all class members expose this and ask for their removal. Jason you put the wheels in motion now hang on.
http://www.therepublic.com/view/story/e578d8f8e1a34ab49c2a96c49c21a6da/LA--Gulf-Oil-Spill-Claims-AuditorsAlso read new CEO has been named.
Thanks for introducing us to Maggie Koerner. She was at the Jazz Fest on Sunday, but I missed her. Hauntingly beautiful voice. Just ordered her CDs.
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