BP To Establish $20 Billion Fund For Spill Claims
The LATimes is reporting that a 9-11 style fund will be established by BP and administered by Kenneth Feinberg to compensate those suffering losses as a result of the Macondo well spill.
Mass tort litigation may never be the same. Plaintiff firm business models will need to change to accommodate these "BOOM! Done" resolutions of mass claims. In the past the folks who got rich were those who commanded "magic" venues and those who could try cases. Now it looks like those who can round up the most plaintiffs stand to make the most. It makes you wonder how much Google will be getting for pay-per-click ads generated by the words "oil spill."
