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The time is now 11:17 pm
You last visited
April 26, 2024, 11:37 am
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Eastern Time (GMT-5:00)
$20 Billion Escrow ~ Liability Limiting for BP
Published:
Score 1 for BP's attorneys .... 0 for Obama's 'ass-kicking' dog and pony show.
____________
Source The Market Ticker
"If you're wondering why BP "agreed" to the $20 billion escrow fund, wonder no more....
In the end, one aim of the fund—and a prime reason BP agreed to it—will be to minimize lawsuits against the company. To do that, Mr. Feinberg will offer big lump-sum payments to workers and businesses as an enticement to stay out of court.
"At some point, I will have to make an offer—'You take this amount in full satisfaction of your claim, but only if you waive your right to future litigation,'" Mr. Feinberg said. "And if I package it right, people will see that it makes no sense to fight it out in court."
Ding ding ding ding. .........."
http://market-ticker.org/archives/2436-Uh-Huh-So-It-IS-A-Liability-Limiting-Thing.html
Comments
I sorta made that assumption with my comment to Sully in my blog. File your claim and it could come with agreements when you sign. Get cash up front instead of years of litigation. No money if you are going to sue.
Yep setting up shop, licking their chops .... sure beats chasing ambulances.
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