Tag Archive for Gulf Coast

BP Shunned By Supreme Court; Settlement Agreement Will Not Be Appealed

colorful oil
Ever since BP agreed to settle the 2010 Horizon Deepwater Oil Spill in the United States Gulf region, the company has been doing its best to find a way out of the deal.

The Horizon Deepwater crisis battered the lower coast of the United States, which crippled the economy, eradicated acres of natural land, and damaged countless wildlife populations, all of which are still attempting to recover.

Declared ‘grossly negligent’ and guilty of ‘willful misconduct’ for its role in the April 2010 oil spill, BP still believes that it is the one that has been wronged by the legal system.

Geoff Morrell, BP’s Vice President of US Relations, has been especially vocal about the company’s viewpoint. Morrell and his attorneys have been claiming that they are victims of fraud, “that BP said was far too generous in paying damages to businesses that were not directly affected by the oil spill but said the resulting economic slump caused revenue losses.”

Luckily for plaintiffs and those who have been damaged by the oil spill and its aftermath, the Supreme Court wasn’t buying it. In fact, the justices didn’t even deign to comment on the proposed case; they simply rejected the plea for consideration.

Joseph Rice, counsel to the BP claimants, called the Supreme Court rejection “very gratifying,” as BP’s proposal was simply their attempt to “re-write the settlement agreement.”

This attempting run-through with the Supreme Court has been one of many delays in the BP Oil Spill settlement process. The settlement process has been rife with uncertainties, including how much oil was actually leaked and which entities were harmed in which way by the leak.

Every new claim has been hotly contested by BP representatives, though the company did eventually agree to a settlement. It is this agreement, rather than evidence of the case, that BP tried to bring to the attention of the Supreme Court.

RD Legal Funding has paid close attention to the BP case proceedings since it became clear that the settlement process would be so arduous.

Because the BP settlement has gone through so many phases and is yet again being contested, RD Legal Funding began offering its Post-Settlement Fee Acceleration program to attorneys and most recently, a BP Claims Cash Out Program for CPAs.

RD Legal Funding continues to offer settlement and claims acceleration to plaintiffs’ attorneys and CPAs who have worked on the BP case. Visit RD Legal Funding’s BP page to learn more about this opportunity to receive usable capital immediately, rather than waiting years for the BP settlement to payout.

Image Credit: Ben Salter

Chinese Drywall Plaintiffs May See Big Payout

abandoned house
After the first complaints were filed five years ago, U.S. District Judge Eldon Fallon ruled that the almost 4,000 homeowners who built their homes with Chinese drywall will be entitled to receive compensation for the damages that ensued. Judge Fallon has ruled in favor of selected groups of plaintiffs in the past, but never before has he made a decision that would affect so many of those affected by the Chinese drywall.

Chinese drywall imported from Taishin Gypsum and other Chinese companies was used to construct and repair houses in hurricane-ravaged areas in Louisiana, Mississippi, Florida, Virginia, Texas, and Alabama beginning in the early 2000s. The drywall was found to emit a sulfurous gas that not only affected the health of residents, but also affected the construction of the homes. The drywall occasionally corroded pipes and wires. Residents had difficulty finding insurance companies that would finance the repairs, and many of the homes became uninhabitable and unsellable. Many homeowners were forced to abandon or destroy the properties, costing them hundreds of thousands of dollars.

This most recent decision, which could be worth over one billion dollars, may be a result of the Taishan Gypsum Co’s absence in court. Fallon found Taishan in contempt. While some of the plaintiffs’ attorneys are hopeful, Colleen Stephens of a group called the Victims of Chinese Drywall is a bit more skeptical. Though Judge Fallon has made his decision, the government now has to hold the Chinese companies accountable and ensure that they pay the damages that are owed. This process could take another few years.

Plaintiffs in the drywall case will be receiving compensation equal to the square footage of their properties times the current cost per square foot of repairing or replacing the defective drywall.

If you are a plaintiff or attorney involved in the litigation and have a slow-paying award or legal fee, RD Legal Funding can provide accelerated access to your funds through their Fee Acceleration program.

Photo Credit: Brian U via Compfight cc

Written by Shayna Keyles, blogger and social media marketer based in Louisville, Kentucky. When not working with RD Legal, she helps small businesses with their online profiles, hikes uncharted areas, and cooks incessantly. You can contact her at skeyles@gmail.com or follow her on Twitter at @SKLiaison.