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Quote Of The Day

Posted by: macaoidh on Friday, June 11, 2010, 8:33
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“It appears that the plan of the state and the federal government to stop the Deepwater Horizon oil leak, remediate its effects and compensate Louisiana citizens damaged by the leak is predicated on BP’s ability to pay for these objectives. I write because I am concerned about the solvency of BP. More specifically, I am concerned about the possibility that BP will seek the protection of the United States bankruptcy laws. A Chapter 11 filing by BP North America, a fully owned subsidiary of BP plc, could be used to protect the company from its creditors, including the United States government, the State of Louisiana, other states and individuals and businesses damaged by BP.”

- Louisiana state treasurer John Kennedy, in a letter to Gov. Bobby Jindal

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  • captcouv

    Can someone please sponsor legislation (state & national) that requires the attorney's general to handle class action lawsuits against BP? Either that or limit renumeration to any lawyer, team of lawyers or law firm, to 10% of the total award upon winning the lawsuit against BP. The $$ should go to the aggrieved and injured parties, not to the lawyers.

    • http://intensedebate.com/people/macaoidh macaoidh

      Actually, it turns out they're going in the opposite direction – there's a bill moving right now which would allow Caldwell to bring on plaintiff attorneys on a contingency fee basis to handle litigation. It ought to be done on an hourly-rate basis, but it won't be. And they'll hit the jackpot on our dime.

  • captcouv

    Can someone please sponsor legislation (state & national) that requires the attorney's general to handle class action lawsuits against BP? Either that or limit renumeration to any lawyer, team of lawyers or law firm, to 10% of the total award upon winning the lawsuit against BP. The $$ should go to the aggrieved and injured parties, not to the lawyers.

    • http://intensedebate.com/people/macaoidh macaoidh

      Actually, it turns out they're going in the opposite direction – there's a bill moving right now which would allow Caldwell to bring on plaintiff attorneys on a contingency fee basis to handle litigation. It ought to be done on an hourly-rate basis, but it won't be. And they'll hit the jackpot on our dime.

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