County Attorney Alison Rogers reports that the Levin-Papantonio Law Firm has contacted her with notification of a punitive damages settlement award related to the BP/Deepwater Horizon Oil Spill of 2010. This settlement is from Transocean and Halliburton, two firms that were involved in the litigation surrounding the spill.
From the Levin Papantoino attorney to Alison Rogers:
"....The total gross award from the HESI/Transocean Punitive Damages &
Assigned Claims Settlements for the coastal real property claims we filed on
behalf of Escambia County is $10,343,477.12.
The outstanding cost total is $179.79.
The attorneys’ fee pursuant to the fee agreement is 18%, which is
1,861,793.52, making the net award $8,481,503.81. We will prepare and email the Distribution
Statement to you next week for review and signature. Once we receive the signed Distribution
Statement, we will request the check and provide it to you. We are very pleased with the resolution of
these claims and thank you for allowing us to represent you!"
Pay off all the county's debts.
ReplyDeleteI bet the whiners at the Fire Department could spend that $8.48 million dollars some five or six times over.....
ReplyDeleteI doubt a penny makes it to the reserves or is used to lessen the burden on taxpayers.
Paying off the debt will put the county in a better position for when a natural disaster strikes. We know the debt service in the many millions and is just basically the annual interest. You showed us on this blog in May 2017 how much the actual debt was and the credit rating prior to the vote to bond the jail. (Thank you for your transparency and information) You don't need play purties nor to spend it on things to increase the tourism industry interests. We are a coastal county and have built on drainage basins. Pay off the debt. The failed attempt to collect ad valorem from the beach still keeps us in a precarious situation for the budget. Run it like a successful business not like a college kid with Daddy's (OP's)credit card.
ReplyDeleteAlso what ever happened to Triumph Inc $? Are they holding it?