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!
A new partnership will connect food entrepreneurs with local farmers in an effort...
The flu vaccine may not be as effective against this seasonís most dominant strain...
New fitness stations that will include bench presses, leg presses, elliptical...
The Destrehan Lady Cats throttled H.L. Bourgeois and knocked off East St. John to...
Destrehanís football season came to an end Saturday night with a 23-7 loss to...
Surveillance footage has been released of a vehicle suspected of running over a St....
Southwest Funding, LP Branch #920 (NMLS 32139) is your local mortgage company caring about your personal mortgage needs for all purchasing, refinancing, and reverse mortgages. All credit and employment considered.
Destrehan student selected to perform at Carnegie Hall - 1646 views
The Beatles, Frank Sinatra, Judy Garland and Luciano Pavarotti all performed at New Yorkís Carnegie Hall, now Destrehan junior Haley Taylor will follow in those famous footsteps.