Legal costs can get exorbitant
The fee for that would be 22.5 percent of the first $300 million awarded and 32.5 percent for everything above that.That could end up being almost one third of the total cost of repairing the Louisiana coast because of the negligence of service companies in producing oil and gas. A lot of those cases were the fault of government for not enforcing the requirements in the mineral development profession in the first place.
Of course, the production companies are at fault and should be made to pay for what errors they made. But one-third of several hundred million is a lot of money to pay a company for handling the legal work to get it done.
The laws are already on the books about who is responsible for what when a company goes out on public land to serve any purpose. It merely needs interpretation and court action if required. It does not deserve hundreds of million of dollars to get it done when the force of government is behind it.
The legal firms can end up being the big winners in the case. They could end up getting almost as much as the entire state gets to undo the damage.
Of course, if the legal firms lose the case, they get nothing. That could become a crunch on their financials if they put in a lot of effort for their zero balance.
However, there should be a better way to handle these legal deals with governmental entities. Perhaps the legal profession needs to come up with a “better looking” and “fairer” method of dividing the money if it comes to a win or lose situation for our residents and governmental providers.
Subscribe Today and Save!!!
St. Charles Herald-Guide is an award-winning newspaper that covers all aspects of St. Charles Parish - from schools and parish government news to social events, features on our local residents and sports.
Order your subscription today!
The falling price of oil has resulted in low prices at the pump—in some cases, less...
Originally opened in 2005, the Satellite Center will celebrate 10 years at a...
A 54-year-old Destrehan man was indicted by a grand jury on two counts of...
Three people have been arrested in connection with the theft of thousands of...
The St. Charles Parish School Board will ask residents to approve up to $42 million...
The Destrehan Wildcats are now 3-2 in district play after victories over Thibodaux...
Yes, you've seen us. Maison Decor is the premier home decor retail store located on highway 90 where Boutte meets Luling. So stop, come on in and you'll be surprised!
Pup Litter is Humane Society’s Pet of the Week - 1649 views
This week’s Humane Society showcase showcase is three unnamed puppies, who are Chihuahua and terrier mixes.