The BP settlement of $18.7 billion is slowly being divided up amongst all the local city and state governments that filed claims in the massive lawsuit. Louisiana is so far slated to receive $6.8 billion, but dividing that money is proving to be a difficult process, and those complications are making a Lafayette BP settlement even harder to negotiate.
The Lafayette Consolidated Government first filed with the lawsuit in 2013, and now it is trying to figure out just how big the city-parish’s claim is. Officials say that the spill damaged our local economy by slowing down the sales tax revenue. East Baton Rouge Parish, which made a similar claim, recently agreed to a $2.1 million stake in the settlement, but the Lafayette City-Parish Council wants to be certain that the city is receiving its fair share.
Will Lafayette Receive Any Of The BP Settlement?
“We definitely don’t want to jump the gun on anything,” said City-Parish Council Chairman Kenneth Boudreaux. The council is still weighing whether it should accept the proposed settlement, appeal it, or simply opt out, though that final option seems unlikely.
What Will The City-Parish Council Do With The Money?
The situation is just unstable enough that city-parish council members, despite meeting in closed sessions on the subject, have not figured out what the settlement money will be used for. How much of the settlement, and where it will be spent, still hangs in the balance, but new cases against BP are being filed and closed every day.
The lawyers of Galloway Jefcoat have firsthand experience working in the oil industry, and our unique perspective has allowed us to help the victims of oil rig accidents for years. Let us know if you need help, and keep following our blog, Facebook, and Twitter for the latest updates on the BP settlement and the oil industry.
Galloway Jefcoat LLP—Personal Injury Attorneys in Lafayette, LA